2023-04-25 10:07:00 ET
Over the past three years, medical device maker Intuitive Surgical (NASDAQ: ISRG) has seen its operations experience severe disruption due to pandemic-related factors. The volume of elective surgeries declined during the early days of the outbreak and subsequent increases in cases of COVID-19 in various parts of the world, leading to lower sales of the instruments and accessories it offers with its crown jewel, the da Vinci surgical system.
But this headwind was never going to damage Intuitive Surgical's business permanently. And in the company's first-quarter update, it showed real signs of bouncing back. Let's discuss why investors should initiate a position in this top growth stock before the next sustained bull run.
The da Vinci system allows physicians to perform a range of elective surgeries. But during the pandemic, many of these procedures were postponed as healthcare facilities had their hands full with COVID-19 patients. Thankfully, things are gradually getting back to normal for Intuitive Surgical. In the first quarter , the company's da Vinci procedure volume soared by 26% year over year.
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Buy This Top Growth Stock Before the Next Bull Market