A briefing dated 2026-09-11 referenced a prior 2026-08-13 recap of ISRG's Q2 2026 period, which itself drew on an earlier 2026-07-23 briefing noting geopolitical turbulence arising from the US-Iran military conflict during the quarter. A separate 2026-07-17 briefing had detailed additional context for that period. These sequential updates reflect ongoing monitoring of the instrument across a period of elevated macro uncertainty [Brief - 2026-09-11].
For the trailing twelve months ending 2026-06-30, Intuitive Surgical recorded revenue of approximately $11.03 billion, representing year-over-year growth of 18.5%. Net income over the same period was $3.14 billion, with a net margin of 28.4% and an operating margin of 31.3%. Gross margin stood at 66.7%. EPS grew 26.5% year-over-year. The company held $2.76 billion in cash with zero reported total debt. The price-to-earnings ratio was 45.16 against a market capitalisation of approximately $139.2 billion [SEC 10-Q - ISRG - 2026-06-30].
Insider activity in September 2026 comprised ten transactions, all in the net selling direction, with a combined net value of approximately -$509,017 [SEC Form 4 - ISRG - 2026-09]. On the institutional side, five firms each opened new positions in ISRG during the most recently reported quarter: Citadel (Ken Griffin), Coatue (Philippe Laffont), D1 Capital (Dan Sundheim), Millennium (Izzy Englander), and AQR Capital (Cliff Asness). These simultaneous new position openings across multiple large institutional managers constitute the material ownership changes that motivated this report [SEC 13F - Citadel - Q2 2026; SEC 13F - Coatue - Q2 2026; SEC 13F - D1 Capital - Q2 2026; SEC 13F - Millennium - Q2 2026; SEC 13F - AQR Capital - Q2 2026].
The prevailing macro environment as of the report generation date shows the 10-year US Treasury yield (DGS10) at 4.94% and the 2-year yield (DGS2) at 4.67%, producing a normal yield curve with a spread of 27 basis points [FRED DGS10; FRED DGS2]. This rate environment forms part of the broader financial backdrop against which ISRG's fundamentals and ownership data are reported.