11:17 AM EDT, 10/22/2025 (MT Newswires) -- Intuitive Surgical ( ISRG ) reported stronger-than-expected Q3 results, helped by about 19% rise in global procedure volumes, Deutsche Bank said in a note Wednesday.

This beat both Wall Street's 15.6% growth forecast and a higher buyside estimate near 17%, with the company raising its full-year procedure guidance to a range of 17% to 17.5%, the bank noted.

US placements of the da Vinci robotic system, particularly the new Gen5, came in well above expectations at 228 systems versus a 201 consensus, Deutsche Bank said.

Deutsche Bank analysts cited growing demand for the Gen5 system, backed by recent hospital checks, though international installations continued to lag due to macroeconomic headwinds and competition in markets like China and India.

Gross margin rose to 68% from the expected 66.1%, while operating margin reached 39%, up from the 36.2% forecast, the note said.

These gains, alongside easing tariff impacts and efficiency improvements, led to a Q3 EPS of $2.40, beating consensus by $0.41 and prompting a full-year margin upgrade, Deutsche Bank added.

US demand is expected to remain strong in the coming quarters and sees international placements picking up in 2026 as the Gen5 system launches in more markets, Deutsche Bank analysts noted.

Meanwhile, Deutsche Bank kept its bearish thesis intact and maintained a sell rating for Intuitive Surgical ( ISRG ) with a $440 price target.

Shares of the company were up over 16% in recent trading.

Price: 537.16, Change: +74.42, Percent Change: +16.08