What smart money is saying about Intuitive Surgical, Inc.
ISRG · Healthcare · Medical - Instruments & Supplies · Market cap $138.20B
7 funds in our archive have pitched Intuitive Surgical, Inc., most recently Liontrust US Opportunities Fund in September 2026.
Company profile
Intuitive Surgical, Inc. is a leading medical technology firm dedicated to advancing patient care by developing, producing, and commercializing sophisticated tools. These innovations empower medical professionals to deliver superior, accessible, and less-invasive treatment options to patients both within the United States and across international markets. Its flagship offering, the da Vinci Surgical System, facilitates intricate operations through a minimally disruptive approach. Expanding beyond surgical applications, the company also provides the Ion endoluminal system, designed for diagnostic interventions like minimally invasive lung biopsies. Complementing its primary systems, Intuitive Surgical supplies a comprehensive array of instruments, including stapling tools, energy devices, and essential core components. Furthermore, it offers structured training programs to ensure proficient use of its technology, alongside extensive customer support services encompassing installation, repairs, and ongoing maintenance. The firm also integrates digital capabilities to deliver unified, connected solutions that optimize hospital performance through actionable insights. Established in 1995, Intuitive Surgical maintains its corporate headquarters in Sunnyvale, California.
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Fund signal · last 12 months
24 lettersMore funds are buying than selling
+5
Net flow
7 buys · 4 new positions · 78%2 sells · 1 full exit
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q2 2025 and Q3 2026, 28 fund letters reported a position in Intuitive Surgical, Inc., with 7 buys (opened or added) and 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 7 | 4 | 1 | 3 |
| Q2 2026 | 12 | 3 | 1 | 1 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 4 | 0 | 0 | 1 |
| Q3 2025 | 3 | 0 | 1 | 1 |
| Q2 2025 | 1 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 28 positions · 12 moves
- New positionJensen Quality Growth Equity CompositeSeptember 2026
“We initiated positions in Intuitive Surgical Opinions expressed are those of Jensen Investment Management and are subject to change, not guaranteed and should not be considered investment advice. 4 | Jensen Quality Growth Equity Composite Fact Sheet 3Q 2026 Commentary jenseninvestment.com (ISRG), a global leader in robotic-assisted surgery, and American Express (AXP), a premium global brand with a differentiated customer rewards ecosystem.”
Intuitive Surgical, Inc. - September 2026
“First, regardless of end market or industry, we are determined to identify, research, and underwrite the most innovative large cap companies that exist. We believe these companies can remain relevant to customers beyond any investment cycle. It’s why we own Intuitive Surgical, Inc (ISRG), SpaceX (SPCX), and NVIDIA Corp.”
Intuitive Surgical, Inc. - New positionLiontrust US Opportunities FundSeptember 2026
“There was some repositioning in healthcare where we initiated new positions in DexCom and Boston Scientific, and reinstated Intuitive Surgical after its T score improved.”
Intuitive Surgical, Inc. - September 2026
“Portfolio Changes We continued to refine the portfolio around a number of high-conviction positions whilst maintaining our focus on businesses benefiting from long-term structural growth trends. The most extensive repositioning occurred in healthcare where we initiated new positions in DexCom and Boston Scientific, and reinstated Intuitive Surgical after its T score improved.”
Intuitive Surgical, Inc. - New positionBell Global Equities Fund Wholesale ClassJuly 2026
“Additionally, a new position was established in leading Health Care company Intuitive Surgical, which is a high-quality business that we have followed for many years.”
Intuitive Surgical, Inc. - July 2026
“This is a marketing communication We sold out of Deutsche Telekom and T-Mobile where newsflow is subdued and shares likely dead money for next quarters. We also sold Intuitive Surgical, a long-term and still favoured holding but one where headwinds are likely to persist in the shorter term. We will revisit if and when T scores turn positive again.”
Intuitive Surgical, Inc. - July 2026
“Portfolio changes The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo. Financials look set to benefit from the ‘stronger for longer’ theme and these additions complement the existing fintech exposure as well as offering geographic diversification. We sold out of Deutsche Telekom and T-Mobile where newsflow is subdued and shares likely dead money for next quarters. We also sold Intuitive Surgical, a long-term and still favoured holding but one where headwinds are likely to persist in the shorter term.”
Intuitive Surgical, Inc. - June 2026
Listed in Gabelli Funds Shareholder Commentary: Open-End Funds’s reported holdings.
Intuitive Surgical, Inc. - June 2026
“These new positions complement existing holdings such as Synopsys, Amphenol, NVIDIA, Intuitive Surgical, and Axon, which already give us exposure to this theme.”
Intuitive Surgical, Inc. - June 2026
“Insmed Incorporated (0.97) Intuitive Surgical, Inc. (0.50) Gilead Sciences, Inc. (0.34) AstraZeneca PLC (0.25) IDEXX Laboratories, Inc. (0.13) Insmed Incorporated is a biotechnology company with three lead pulmonology assets that we believe can collectively generate more than $8 billion in peak sales. We are particularly excited about Brinsupri for non-cystic fibrosis bronchiectasis, which we view as a $5 billion-plus opportunity. Despite what we believe has been a strong start to the launch, shares fell after first-quarter Brinsupri sales missed expectations as investors focused on early signs of higher treatment discontinuations. Insmed's exit from the Nasdaq-100 Index created additional technical selling pressure. Long term, we continue to view Brinsupri as an important treatment option for the 500,000-plus bronchiectasis patients in the U.S. We remain bullish on the portfolio's long-term fundamentals, including the opportunity for treprostinil palmitil inhalation powder (TPIP), which is being studied for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Compared to existing inhaled prostanoids that require four daily treatments, once-daily TPIP is more convenient and can be dosed at significantly higher levels, potentially resulting in meaningfully better efficacy. Intuitive Surgical, Inc. sells robotic-assisted surgical systems.”
Intuitive Surgical, Inc. - June 2026
“Shares of Intuitive Surgical came into 2026 trading at a large premium to medtech peers but have pulled back over the first half of the year. Domestic procedure growth continued to decelerate, and the market has become a bit more cautious of increasing competition. We understand the concerns but simultaneously appreciate the large, and widening, lead the company has in the marketplace. We believe the stock’s risk/reward prolife is attractive with shares trading at their lowest levels since the COVID pandemic and will look to add to the investment on further weakness.”
Intuitive Surgical, Inc. - June 2026
“ Intuitive Surgical (ISRG), a leader in robotic-assisted surgery, was a bottom contributor during the quarter despite reporting strong operating results in April.”
Intuitive Surgical, Inc. - June 2026
“Intuitive Surgical, Inc. sells robotic-assisted surgical systems. Shares declined 13.7% after the company's first-quarter U.S. system placements came in below investor expectations. Medical device stocks also broadly underperformed the market amid concerns that health care utilization trends could decelerate following the expiration of Affordable Care Act subsidies. Concerns were further compounded by the potential impact of Medicaid work requirements expected to take effect in 2027. Despite these headwinds, which we view as short-term in nature, we believe Intuitive can continue to grow revenue at a mid-teens rate for many years and remain positive on the company's long-term growth outlook.”
Intuitive Surgical, Inc. - June 2026
“There were two other current holdings that declined double-digits percentage during the second quarter. Intuitive Surgical Inc (ISRG), one of the global leaders in robotic-assisted surgery, posted quarterly results that were modestly ahead of consensus expectations, with da Vinci procedure growth of 16%. The stock’s forward P/E multiple has been cut in half since late January related to a broad sell- off in medtech/devices and possible competition in both soft tissue robotics and instrumentation. We remain optimistic regarding the company’s competitive positioning and runway for growth and added to our position during the quarter.”
Intuitive Surgical, Inc. - June 2026
“Over the quarter, we exited four positions: Meta, Intuitive Surgical, Shopify, and EchoStar.”
Intuitive Surgical, Inc. - HoldsMayTech Global Investments Global Growth StrategyJune 2026
“Intuitive Surgical's shares came under pressure due to concerns about increasing competition, despite the company reporting better-than-expected results.”
Intuitive Surgical, Inc. - New positionLiontrust GF Global Innovation FundJune 2026
Listed in Liontrust GF Global Innovation Fund’s reported holdings.
Intuitive Surgical, Inc. - New positionLiontrust Global Innovation FundJune 2026
Listed in Liontrust Global Innovation Fund’s reported holdings.
Intuitive Surgical, Inc. - AddedBurke Wealth Management Focused Growth StrategyJune 2026
“Q2 PORTFOLIO ACTIVITY The second quarter was an active trading quarter in our Focused Growth portfolio. We sold our positions in Abbott Labs and Lowe’s, added new positions in Eaton and Apollo, trimmed back rocket ship Micron twice for risk management purposes and used share price weakness as an opportunity to bolster our weightings in Intuitive Surgical, Meta, Service Now and Uber.”
Intuitive Surgical, Inc. - HoldsLarge-Cap GrowthMarch 2026
“Health Care was the second-largest detractor, driven primarily by weakness in Intuitive Surgical (ISRG). The company reported solid operational results, with revenue, robotic placements, and procedures in line with consensus expectations. While initial 2026 procedure guidance was modestly below consensus expectations, the guidance remains consistent with the company’s history of conservative outlooks. We remain confident in the company’s long-term growth trajectory, supported by durable procedure growth, continued adoption of its robotic platform, and its leadership position within minimally invasive surgery.”
Intuitive Surgical, Inc. - HoldsThe Ithaka GroupDecember 2025
“Intuitive Surgical, Inc. (ISRG) Intuitive Surgical is a pioneering medical technology company best known for its da Vinci robotic surgical system, which enables surgeons to perform precise, minimally invasive procedures.”
Intuitive Surgical, Inc. - December 2025
“The top individual absolute contributors to Global Growth’s results were Alphabet, Intuitive Surgical, Galderma, Titan, and Taiwan Semiconductor. Alphabet’s recent results and product launches have reshaped its AI narrative. Once viewed as lagging in the space, it is now seen as a credible leader and rival to OpenAI. Third-quarter 2025 results were strong. Search and paid clicks both accelerated, with paid clicks growing Past performance is not indicative of future results. Stay Informed Get direct access to our latest thinking on innovation, investing, long-term capital and culture. Read now. 1 3 · S A N D S CA P I TA L · G LO B A L G R O W T H · D E C E M B E R 2 0 2 5 at their fastest pace in two years. Management cited AI Overviews and the new AI Mode as key drivers of user engagement. Google Cloud reached a $60 billion run rate and is growing at a pace similar to AWS at the same scale. The subscriptions, platforms, and devices segment now generates $50 billion annually and grew more than 20 percent year over year. YouTube ad revenue rose 14 percent, solid for a $40 billion business. Alphabet also launched Gemini 3, its latest AI model, which led industry benchmarks in text and image tasks. Meta Platforms plans to adopt Alphabet’s custom AI chips, TPUs, in its data centers beginning in 2027. Intuitive Surgical is a leading provider of robotic surgical systems.”
Intuitive Surgical, Inc. - HoldsDavenportDecember 2025
“During the fourth quarter, the Fund benefited from strong results delivered by a broad range of companies. Alphabet Inc. (GOOG) was the strategy’s top performer for the period as the stock benefitted from a narrative shift that moved the company from the “AI loser” category over to the “AI winner” bucket. We elected to trim the position as the stock reached all-time highs. Further, we were pleased to see patience rewarded with a bounce back in various healthcare concerns such as Intuitive Surgical Inc. (ISRG) and Vertex Pharmaceuticals Inc. (VRTX), which posted meaningful gains.”
Intuitive Surgical, Inc. - December 2025
“The top absolute contributors to investment results during the quarter were Intuitive Surgical, Taiwan Semiconductor, Itochu, Rentokil Initial, and Dollarama. Intuitive Surgical is a leading provider of robotic surgical systems.”
Intuitive Surgical, Inc. - September 2025
“The largest detractors from performance for the quarter were Netflix, Chipotle Mexican Grill, Intuitive Surgical, Intuit and Spotify.”
Intuitive Surgical, Inc. - September 2025
“we sold 7 positions to zero in Q3: o six in technology: Tyler Technologies, CyberArk Software, Salesforce, Atlassian, ARM Holdings, Toast o one in health care: Intuitive Surgical”
Intuitive Surgical, Inc. - September 2025
“Intuitive Surgical: ISRG shares lagged despite reporting another quarter of double-digit revenue and earnings growth.”
Intuitive Surgical, Inc. - June 2025
“Many of our best performing names from the first quarter suffered the inverse fate in the second quarter, as Progressive (PGR), Arthur Gallagher (AJG), and Intuitive Surgical (ISRG) were all among the top detractors to absolute returns during the period.”
Intuitive Surgical, Inc.
Also mentioned · 4
These funds discuss Intuitive Surgical, Inc. as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedBaron Health Care FundSeptember 2026
“Medical device companies had mixed performance, with some companies like Intuitive Surgical, Inc. noting an impact on procedure volumes following the expiration of Affordable Care Act (ACA) subsidies.”
Intuitive Surgical, Inc. - MentionedTAMIM Fund: Global High ConvictionSeptember 2026
“Intuitive Surgical's da Vinci remains the dominant platform and Medtronic is the challenger, but a modular, cart based system sold by a company already present in nearly every hospital is a credible way to compete.”
Intuitive Surgical, Inc. - June 2026
“The largest relative detractors included Netflix and Intuitive Surgical as well as not holding Advanced Micro Devices, Lam Research and KLA.”
Intuitive Surgical, Inc. - March 2026
“At the sector level, the Strategy’s overweight to Industrials and Materials had positive effects, largely offsetting the negative impact of our underweight to Consumer Staples and overweight to Financials. Stock selection was the biggest driver of the Strategy’s relative underperformance for the quarter, particularly in Industrials, Health Care and Financials. Within Industrials, strong performance from Carrier Global was not enough to make up for the underperformance of Verisk Analytics (which we exited during the quarter) and Equifax (EFX). In addition, certain defense stocks which are in the Index but not held in the strategy hurt relative performance. In Health Care, both Intuitive Surgical (ISRG) and Danaher Corp (DHR) were negative relative contributors despite improving and solid fundamental performance.”
Intuitive Surgical, Inc.
Fund coverage · 7 theses
- Liontrust US Opportunities FundSeptember 2026
Intuitive Surgical is held as a global leader in robotic-assisted surgery after its T score improved.
Read the full thesis - Jensen Quality Growth Equity CompositeSeptember 2026
Intuitive Surgical is the clear leader in robotic-assisted surgery with recurring revenue, high switching costs, and long-term growth runway.
Read the full thesis Intuitive Surgical leads robotic-assisted surgery, with recurring revenue, installed base advantages and long-term growth from rising penetration.
Read the full thesis- MayTech Global Investments Global Growth StrategyJune 2026
Intuitive Surgical is supported by loyal customers, proven clinical outcomes, and limited evidence of switching away from da Vinci.
Read the full thesis - Polen Focus GrowthDecember 2025
Intuitive Surgical is the dominant soft tissue robotic surgery platform with high barriers to entry, accelerating procedure growth, and a reasonable valuation.
Read the full thesis - Sands Capital Global LeadersSeptember 2025
Intuitive Surgical is the leading provider of robotic surgical systems, poised for strong growth as it expands its monopoly from niche to broader surgical procedures.
Read the full thesis - Baron Health Care FundJune 2025
Intuitive Surgical, Inc. is a competitively advantaged company with strong financials and growth potential driven by its da Vinci Surgical System and the expanding adoption of robotic surgery.
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