COVID-19 shut down many aspects of life over the past couple of years, including the availability of major healthcare services. People had to postpone their surgeries, slowing the growth of Intuitive Surgical (NASDAQ:ISRG), a leader in robotic-assisted surgeries. A lukewarm growth forecast for 2022, amid a market revolt against high-growth stocks, has sent Intuitive's shares tumbling by over 20%. The business fundamentals for Intuitive Surgical, however, look as promising as ever, and now may be a good time for long-term investors to take a closer look at this business for three key reasons.
The demand for healthcare and surgeries is growing as people live longer and the population in the US and many parts of the world ages. Additionally, there are not enough doctors and healthcare workers to meet the growing need for patient care. Hospitals are looking to adopt technologies such as robotics to reduce the strain on human resources, and provide timely and quality care for patients.
Intuitive Surgical, founded in 1995, is a leading innovator, designer, and producer of robotic equipment used in surgical procedures. The company's flagship product, da Vinci, has become the standard in the industry. Using da Vinci's 3D high definition cameras and advanced surgical tools, surgeons can perform complex procedures with exceptional precision, even in areas of the human body that are difficult to reach with traditional open surgery.
For further details see:
Why Intuitive Surgical's Share Slump Is a Gift for Investors