Intuitive Surgical, Inc. (ISRG) shares took a tumble Wednesday after reporting preliminary fourth-quarter and full-year 2025 results. The drop came despite what looked like a pretty solid performance across the board.

The robotic surgery specialist delivered expanded procedures, higher system placements, and revenue gains for both the quarter and the full year. Sometimes the market just wants more, apparently.

According to market data, ISRG stock has climbed over 4% in the past six months. Investors looking for exposure can consider the iShares U.S. Medical Devices ETF (IHI).

Procedures Keep Growing

Worldwide procedures using da Vinci and Ion systems grew about 18% in the fourth quarter compared to the same period last year. That's meaningful growth in an established market.

Da Vinci procedures rose about 17%, while Ion procedures jumped roughly 44%. The Ion system, used for lung procedures, is clearly gaining traction.

For all of 2025, combined procedures increased approximately 19% versus 2024. Looking ahead, Intuitive expects global da Vinci procedures to grow roughly 13% to 15% in 2026.

System Placements Hit New Heights

The company placed 532 da Vinci surgical systems in the fourth quarter alone. Of those, 303 were the newer da Vinci 5 units, which shows hospitals are adopting the latest technology.

For the full year 2025, Intuitive placed 1,721 da Vinci systems. The report noted that Ion endoluminal system placements were lower in the earlier part of the year compared to 2024.

Revenue Beats Expectations

Preliminary fourth quarter 2025 revenue came in at about $2.87 billion, beating the Street estimate of $2.72 billion. That's roughly 19% higher than Q4 2024.

Full-year revenue tallied about $10.06 billion, an increase of roughly 21% from 2024. The gains were driven by higher procedure volumes and increased system placements.

Instruments and accessories revenue grew around 17% in the fourth quarter and about 19% for the full year compared to the prior year. Systems revenue also climbed thanks to stronger placements and higher average selling prices.

CEO Dave Rosa said the company saw wider platform adoption and growing procedure volumes. He added that Intuitive remains focused on its goals to improve patient care and outcomes.

ISRG Price Action: Intuitive Surgical shares were down 4.24% at $538.01 at the time of publication Wednesday, according to market data.