Intuitive Surgical, Inc.
In the published model solve dated 2026-Q2, anchored at $373.80, Intuitive Surgical, Inc. (ISRG) is priced for today's economics sustained for ~11.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 24, 2026 from SEC EDGAR filings.
• This is a toll on operations rather than a machinery business: 85% of second-quarter revenue was recurring, with instruments and accessories bringing in $1.73 billion against $685 million of system sales [Source: Intuitive Q2 2026 earnings release]. • The specific risk is duration rather than level, because today's economics have to hold for about 12 years to account for the price, a stretch only a small minority of fast-growing companies have managed for even a decade. • The next read is th
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2,252 institutional managers reported holding ISRG in 13F filings for the quarter ended 2026-03-31. Together they hold about 80% of the company; the top 10 hold 36%. 133 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 7.8M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ISRG's share count is about flat over the past five years ($6.44B of repurchases, offset by issuance). It stopped paying its dividend within the past year. Cash returned over the past three years: $3.48B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at ISRG over the trailing three years. Absence is a fact about the company, not a signal. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ISRG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-25 | -3.7% | -12.1% |
| 2023-10-21 | -3.1% | +26.0% |
| 2024-02-01 | -1.5% | -1.3% |
| 2024-04-20 | -2.1% | +18.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ISRG's latest 8-K filings: 2026-07-27 (items 5.03, 9.01); 2026-07-16 (items 2.02, 9.01); 2026-05-28 (items 5.02, 9.01); 2026-05-04 (items 5.02, 5.07, 7.01); 2026-04-21 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 24, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.