Johnson & Johnson (JNJ.N) Advancing the Landscape of Surgical Robotics with Ottava

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Johnson & Johnson (JNJ.N) Advancing the Landscape of Surgical Robotics with Ottava

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03 Aug 2026 10:12:42 ET │ 11 pages

Johnson & Johnson (JNJ.N)

Advancing the Landscape of Surgical Robotics with Ottava

CITI'S TAKE

Buy Following FDA approval for Ottava on July 22, 2026, management hosted

a call to provide a more in-depth look at the features and Price (31 Jul 26 16:00) US$256.35

commercialization strategy. Ottava received approval for several upper Target price US$298.00

abdomen procedures including Roux-en-Y gastric bypass and Expected share price return 16.2%

cholecystectomy, providing a solid foundation as it launches Ottava Expected dividend yield 2.0%

initially at select, early adopters to gain experience and insights. Expected total return 18.3%

Management highlighted several proprietary features like Twin Motion

Market Cap US$617,778M and automation that should give Ottava a competitive advantage versus

peers and improve OR capacity and efficiency. Following an initial,

“disciplined” rollout, management plans to “move with speed,” advancing

additional 510ks for new instruments and expanded indications, plus Joanne WuenschAC

advancing registrations in Western Europe and Japan. While challenging +1-212-816-9606

Intuitive Surgical is no small feat, the features highlighted are compelling, joanne.wuensch@citi.com

and combined with management touching “every operating room in the

Anthony Occhiogrosso

world,” Ottava may notably expand robotic use (estimated at <8% globally

+1-212-816-7579

currently). We rate JNJ Buy. anthony.occhiogrosso@citi.com

Jane-Marie Lai

Management highlighted five features of Ottava. Starting with its “novel

+1-212-816-3628

architecture,” the surgical arms are integrated into the operating table and stored janemarie.lai@citi.com