Intuitive Surgical (NASDAQ: ISRG) hasn't defied this year's bear market. In fact, the leader in robotic surgery has underperformed the S&P 500 Index. Intuitive has dropped almost 40% while the benchmark index has declined 21%.
Why the pessimism about this innovative growth stock? The pandemic pushed hospitals to focus on caring for coronavirus patients. That meant they postponed many non-invasive procedures. And in some cases, they put plans on investing more in surgical robots on the back burner. Still, Intuitive managed to keep on growing. And the latest earnings report offered us a view of what may be ahead. So, now, is it time to buy this beaten-down stock?
First, a bit about the challenges Intuitive has faced. As mentioned above, peaks in coronavirus hospitalizations have weighed on revenue. Hospitals postponed surgeries using Intuitive's flagship Da Vinci system.
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Is It Time to Buy This Beaten-Down Growth Stock?