Competition Is Heating Up, but Here's Why Intuitive Surgical Might Still Be the Smartest Bet in MedTech

Intuitive Surgical makes the da Vinci surgical robot, with 11,710 systems in use globally.

Medical device competitors Medtronic and Johnson & Johnson are bringing out their own surgical robots.

Intuitive Surgical's largest revenue source isn't the sale of new da Vinci systems.

Intuitive Surgical (NASDAQ: ISRG) can be hard to own because the stock is prone to deep drawdowns. It is in a drawdown right now, with the stock down roughly 40% from its early 2025 high. Even after that drop, the price-to-earnings ratio remains lofty at 42x. This is not a stock for the faint of heart.

However, if you are a growth-oriented investor, you shouldn't give up on Intuitive Surgical. Historically, the stock has recovered from deep drawdowns and gone on to reach higher highs. There's a difference this time around due to increasing competition from medical device peers such as Medtronic (NYSE: MDT) and Johnson & Johnson (NYSE: JNJ) . But that probably shouldn't stop more aggressive investors. Here's why.

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Intuitive Surgical was an early leader in the surgical robotics space. The company's da Vinci system basically helped create the industry niche. So, early on, the question was about medical providers being willing to adopt a new technology. Surgical robotics is now a far more mature and well-accepted technology, generally enabling less invasive surgeries with better outcomes.

In late 2025, Medtronic received approval for its Hugo surgical robotic system in the United States. In mid-2026, J&J received approval for its OTTAVA surgical robot system. Both Medtronic and J&J are well-established competitors with strong industry connections. There is no doubt that they will be fierce competitors to Intuitive Surgical.