Intuitive Surgical’s Q3 da Vinci procedure growth market remains closely contested between the 10–12.5% and 12.5–15% bands, reflecting uncertainty around the October 20 earnings print. Management’s full-year 2026 guidance of 13.5–15.5% (midpoint near 14.5%) follows Q2 results of 15% da Vinci growth, down from 18% in 2025 and 17% in 2024 amid U.S. moderation tied to ACA subsidy expirations and larger installed-base effects. Offsetting strength in OUS markets, particularly India and Japan, contends with China policy and competitive pressures, while tough year-over-year comparisons from Q3 2025’s elevated 19% pace add volatility. Traders weigh these regional dynamics and recurring instrument revenue leverage against the company’s installed base expansion and da Vinci 5 adoption cycle.