Intuitive Surgical (ISRG) is back in growth mode. At the analyst conference Thursday management reported Q4 2009 revenues that were up 15% sequentially and 40% from the year-earlier quarter.
In Q1, 2009 the recession had impacted even mighty Intuitive, with revenues flat from year earlier.
So while the company has great products, and is doing great, it might be cautious to attribute the good Q4 numbers in part to equipment purchases that were delayed earlier in 2009.
For details see my Intuitive Surgical Q4 analyst conference summary.
While I believe that ISRG will continue to see good growth in the long run as its robots are used for an increasing variety of surgeries, I don't own the stock. Compared to other growth companies the Price/Earnings ratio is rather high, though not at the kind of ridiculous levels we saw before the panic. Investors have done very well with Intuitive, and those who dumped the stock in late 2008/early 2009 now regret their panic.
I do own shares in a much smaller, even more speculative, surgical robotics company, Hensen Medical.
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