Intuitive Surgical, Inc. (ISRG)

In January 2025, the stock reached an all-time high due to strong Q4 2024 earnings and full-year results. From February to April 2025, the stock experienced a decline of over 30%. In April 2025, Q1 2025 earnings showed revenue and procedure growth, but gross margins declined, and the FDA issued a warning letter. In May 2025, David Rosa was announced as the new CEO, and the company received FDA clearance for its da Vinci Single Port. In June 2025, the stock rebounded, but Deutsche Bank downgraded Intuitive Surgical to "sell".

Intuitive Surgical's product and service demand exhibits some seasonality. System placements in Q1 2025 were noted to be roughly in line with 4Q-1Q seasonality seen last year, indicating that demand can fluctuate throughout the year.

Intuitive Surgical, Inc. is a global technology leader in robotic-assisted, minimally invasive surgery, operating within the Healthcare sector. The company develops, manufactures, and markets robotic products designed to improve clinical outcomes for patients through minimally invasive procedures. Its major products include da Vinci Surgical Systems, Ion Endoluminal System, Instruments and Accessories, and Services. As of Q1 2025, the global da Vinci installed base exceeded 10,000 systems.

Intuitive Surgical has a significant global presence with products distributed worldwide through direct sales organizations and distributors across multiple continents. The company's headquarters are in Sunnyvale, California, with additional U.S. regional offices and offices in Europe and Asia-Pacific. As of Q1 2025, over 50,000 surgeons across 70 countries perform procedures using Intuitive's systems. In January 2025, Intuitive announced plans to establish a direct presence in Italy, Spain, Portugal, Malta, and San Marino by acquiring the da Vinci and Ion distribution businesses in these countries, with the transaction expected to close in 2026.

Intuitive Surgical has generally maintained a strong brand reputation, recognized for its high-quality products, reliable performance, and extensive training programs for surgeons. However, in April 2025, the company's reputation faced a challenge when the FDA issued a warning letter regarding reported injuries and deaths associated with the da Vinci surgical system. Intuitive stated it was undertaking a comprehensive review of its reporting and compliance processes to address the issues and restore trust.

Intuitive Surgical's ownership structure is predominantly institutional, with institutional shareholders holding a significant portion of the company's stock, ranging from approximately 82.89% to 85%. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., and State Street Corp. Retail investors hold approximately 14% to 29.63% of the company's stock, while insiders hold a smaller percentage, around 0.49% to 0.81%.