Intuitive's Growth Remains Strong but Market Concerned Over Entry of Competitors

Intuitive continues to benefit from the global adoption of robotic surgery, even in the procedures we didn't view as likely to convert. Our long-term positive view about the company's competitive position is unchanged even as new competitors (Medtronic and Johnson & Johnson) have finally arrived on the scene, and with the latest release of the next-generation platform, Intuitive should maintain its dominance.