Intuitive Surgical's Coronavirus Slump Is Likely to Be Brief
During the economic shutdown to combat the spread of the coronavirus, very few companies have been spared. Intuitive Surgical (NASDAQ: ISRG) is no exception. The stock was down nearly 40% in mid-March, though it has since rebounded and is now down only 16.6% so far in 2020.
There's a good reason for this. The healthcare industry is getting a hefty dose of disruption due to the pandemic. In order to reallocate resources to care for those who have been infected and are experiencing life-threatening symptoms, many elective surgeries have been delayed. That's Intuitive's bread and butter, which has thrown its immediate prospects into question. But this is likely to be a very short-term problem, and Intuitive is in exceptional financial shape and riding the long-term wave favoring robotic-assisted procedures. It's time to give this stock a serious look.
To establish a new point of reference, a quick review of Intuitive's first quarter of 2020 will be helpful.
Source Fool.com
