2 Growth Stocks to Buy in November Without Any Hesitation
They have both outperformed the broader equity market over the long run.
In November, two healthcare stocks are worth considering for long-term investment: Eli Lilly (LLY) and Intuitive Surgical (ISRG). Eli Lilly has demonstrated impressive year-over-year revenue growth of 39% in the third quarter, reaching $24.4 billion. This growth is driven by its core GLP-1 portfolio, which includes successful drugs like Zepbound, Foundayo, and Mounjaro, as well as promising pipeline candidates like retatrutide and others in neuroscience, oncology, and immunology.
Additionally, Eli Lilly's products in other areas, such as pain management, are also showing solid sales growth. Despite increased competition in the weight-loss and diabetes markets, Eli Lilly is well-positioned to remain a leader due to its diverse, highly diversified portfolio of approved drugs and a massive addressable market in the robotic-assisted surgery industry.
Intuitive Surgical, on the other hand, has faced challenges this year, with a significant drop in shares post-earnings due to weaker-than-expected procedure guidance. However, the company's revenue increased by 22% year-over-year to $3.05 billion, primarily driven by a 14% increase in Da Vinci procedures. The company's long-term prospects are attractive due to the significant opportunity in the robotic-assisted surgery market, where Intuitive Surgical currently leads.
Additionally, Intuitive Surgical's da Vinci 5, which could earn indications in areas where previous models wouldn't be as strong, is expected to boost procedure volume over the long run. Despite volatility over the next year, Intuitive Surgical's long-term prospects make it an attractive buy after its recent slump.
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