The frustrating reality with Intuitive Surgical (ISRG) is that there is not going to be any easy way to get into this stock. Investors either have to accept that the high valuation is the admission price for the best growth story in med-tech or they have to hope for a stumble that drives momentum investors away for a bit. That's a shame, as this is definitely a company to own at the right price.
A Nearly Flawless Quarter In Most Respects
Intuitive reported nearly 28% sales growth in the fourth quarter, easily exceeding even the highest guess on the Street despite a steady upward march in estimates. Revenue growth was quite well-balanced, as revenue from system sales rose 27%, instrument revenue rose 30%, and service revenue climbed 24%.
Intuitive Surgical's robots and proprietary tools have long commanded great margins and this quarter was no exception. Gross margin expanded half a point from last year and about 10bp sequentially, while operating income rose more than 30%.
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If Europe Gets Weaker, Be Ready To Buy Intuitive Surgical
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