2023-04-23 08:05:00 ET
If you find a solid growth stock to hold for years, it can lead to significant riches, potentially even millions, in the long run. One stock that has made investors millionaires even with just a modest $5,000 investment a couple decades ago is Intuitive Surgical (NASDAQ: ISRG) . The stock has been a phenomenal success story -- the business has been growing fast over the years, as has the industry. Why has the stock been such a good buy, and is it too late to buy shares of the company today?
Intuitive Surgical makes the da Vinci Surgical System, which uses robotics to assist physicians during surgery. By using a robotic arm, surgeons can administer operations more precisely and make the procedures less invasive, thus improving results for patients while also reducing the risk involved.
By 2003, these systems were still in their early adoption phases. The company says that by 1998, surgeons used the technology on "the world's first computer-enhanced closed chest heart surgeries." And as of the end of 2003, Intuitive Surgical had sold 210 da Vinci Surgical Systems. Nowadays, the company places hundreds of its surgical systems every quarter .
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Investing $5,000 in This Stock 20 Years Ago Would Have Made You a Millionaire Today