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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Rick Wise | Stifel | 13 (0%) |
| Travis Steed | Bank of America | 13 (0%) |
| Larry Biegelsen | Wells Fargo | 12 (17%) |
| David Roman | Goldman Sachs | 11 (0%) |
| Robbie Marcus | JPMorgan | 11 (9%) |
| Patrick Wood | UBS | 3 (0%) |
| Adam Maeder | Piper Sandler | 3 (0%) |
| Ryan Zimmerman | BTIG | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Stifel | 1 | 13 (0%) |
| Bank of America | 1 | 13 (0%) |
| Wells Fargo | 1 | 12 (17%) |
| JPMorgan | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.41B | +25.2% | $1.88 | +11.2% | 68.0% | 30.4% | 28.4% | $511M |
| FY2025 Q1 | $2.25B | +19.2% | $1.92 | +27.2% | 64.7% | 25.7% | 31.0% | $465M |
| FY2025 Q2 | $2.44B | +21.4% | $1.81 |
| 11 (9%) |
| Goldman Sachs | 1 | 11 (0%) |
| Piper Sandler | 1 | 3 (0%) |
| UBS | 1 | 3 (0%) |
| BTIG | 1 | 2 (0%) |
| +24.0% |
| 66.3% |
| 30.5% |
| 27.0% |
| $560M |
| FY2025 Q3 | $2.51B | +22.9% | $1.95 | +25.0% | 66.4% | 30.3% | 28.1% | $736M |
| FY2025 Q4 | $2.87B | +18.8% | $2.21 | +17.6% | 66.4% | 30.2% | 27.7% | $730M |
| FY2026 Q1 | $2.77B | +23.0% | $2.28 | +18.8% | 66.1% | 30.9% | 29.6% | $809M |
| FY2026 Q2 | $2.89B | +18.5% | $2.35 | +29.8% | 67.8% | 33.6% | 28.3% | $948M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Intuitive Surgical delivered robust Q1 2026 results with revenue up 23% to $2.77 billion and GAAP EPS of $2.28, up from $1.92 in the prior year, as total procedures grew 17% across all platforms. Management raised FY2026 da Vinci procedure growth guidance to 13.5-15.5% and non-GAAP gross margin to 67.5-68.5%, reflecting innovation-led revenue premiums above procedure growth. Force Feedback instrumentation broadened availability, and SP platform expansion continued with stapler and new procedure additions. China market headwinds persisted but strong operating margin leverage and cost execution supported earnings growth.
Demand | Product Launch | Innovation & R&D | Geographic Expansion | Competitive Dynamics | Revenue Growth | Margin | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 2 | 4 | 3 | 1 | 2 | 1 | 3 | 2 |
| 2025Q1 | 6 | 3 | 1 | 1 | 2 | |||
| 2025Q2 | 2 | 3 | 4 | 1 | 1 | 2 | 1 | |
| 2025Q3 | 7 | 5 | 3 | 1 | 1 | 1 | ||
| 2025Q4 | 4 | 4 | 3 | 2 | 2 | 2 | 1 | 1 |
| 2026Q1 | 3 | 2 | 3 | 3 | 2 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 2 | 6 | 2 | 7 | 4 | 3 |
| Product Launch | 4 | 3 | 3 | 5 | 4 | 2 |
| Innovation & R&D | 3 | 1 | 4 | 3 | 3 | 3 |
| Geographic Expansion | 1 | 1 | 1 | 1 | 2 | 3 |
| Competitive Dynamics | 2 | 1 | 1 | 2 | 2 | |
| Revenue Growth | 1 | 2 | 2 | 2 | ||
| Margin | 3 | 1 | 1 | 1 | 1 | |
| Cost Pressure | 2 | 2 | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ISRG Intuitive Surgical | 9 | +23.0% | |
| BAX Baxter International | 3 | +2.9% | |
| BDX Becton Dickinson | 6 | -10.6% | |
| COO Cooper Companies (The) | 8 | +6.2% | |
| HOLX Hologic | · | n/a | |
| RMD ResMed | 8 | +10.8% | |
| WST West Pharmaceutical Services | 9 | +21.0% |