Intuitive Surgical’s ISRG Ion platform continued its steep growth trajectory in the second quarter of 2025, with procedures surging 52% year over year to roughly 35,000. This performance underscores the system’s increasing role in minimally invasive lung diagnostics and interventions, an area with significant long-term potential. The quarter marked Ion’s first commercial procedures in Australia and Korea, expanding the platform’s global footprint. While the installed base grew to 905 systems, capital placements fell to 54 from 74 in the prior-year period, reflecting the challenge of scaling hardware sales even as utilization improves. Average system utilization climbed 8% year over year, signaling stronger engagement from existing customers. The Ion’s trajectory draws inevitable comparisons to the early adoption curve of Intuitive Surgical’s flagship da Vinci system. If Intuitive can replicate that success in pulmonary care, Ion could open a multi-billion-dollar opportunity by transforming the standard of care for early lung cancer diagnosis and other thoracic procedures. However, the slowdown in system placements highlights a near-term bottleneck. Hospital capital budgets, particularly outside the United States, remain under pressure from macroeconomic and trade headwinds, potentially affecting expansion. The focus will likely remain on deepening utilization and demonstrating economic value to support broader uptake. Still, with strong procedural momentum, expanding international presence and a growing body of clinical validation, Ion remains one of Intuitive Surgical’s most promising growth vectors. The next test will be whether the company can turn rising case volumes into sustained capital demand, setting the stage for Ion to follow in da Vinci’s footsteps as a transformative platform in its field. At the 2025 AAOS Annual Meeting, Stryker SYK introduced its fourth-generation Mako SmartRobotics system, Mako 4, featuring the first FDA-cleared robotic hip revision capability. With this advancement, Stryker enhances surgical planning and execution across hip, knee, spine and shoulder procedures. Mako 4 integrates Stryker’s Q Guidance System, offering improved intraoperative visibility and streamlined workflows. Simultaneously, Globus Medical GMED showcased its ExcelsiusFlex robotic navigation system for Total Knee Arthroplasty. Globus Medical’s system offers both CT-based and imageless registration options, providing surgeons with ergonomic control and procedural flexibility. Globus Medical’s ExcelsiusFlex is designed to enhance surgical precision and accommodate diverse patient needs and surgeon preferences. Shares of ISRG have lost 8.3% in the year-to-date period compared with the industry’s decline of 10.2%. From a valuation standpoint, Intuitive Surgical trades at a forward price-to-sales ratio of 16.13, above the industry average. However, it is still lower than its five-year median of 26.91. ISRG carries a Value Score of D. The Zacks Consensus Estimate for Intuitive Surgical’s 2025 earnings implies an 11.3% rise from the year-ago period’s level. The stock currently carries a Zacks Rank #3 (Hold).

Intuitive Surgical Navigates Tariff-Driven Margin Pressures and Cost Inflation, Trading 143rd with $730M Volume as da Vinci 5 Adoption Gains Momentum

Intuitive Surgical's ISRG Ion platform saw a 52% year-over-year increase in procedures to around 35,000 in the second quarter of 2025, with its first commercial procedures in Australia and Korea. The installed base grew to 905 systems, while capital placements declined to 54 from 74 in the prior year, indicating challenges in hardware sales despite rising utilization by 8%. The company's forward price-to-sales ratio is 16.13, above the industry average but below its five-year median of 26.91, and it carries a Value Score of D and Zacks Rank #3 (Hold). Stryker introduced its Mako 4 robotic system with FDA-cleared hip revision capability, and Globus Medical showcased its ExcelsiusFlex robotic navigation system for total knee arthroplasty, highlighting advancements in robotic surgical platforms.