My favorite company, Intuitive Surgical Inc. (NASDAQ: ISRG), the maker of the da Vinci Surgical System reported earnings Tuesday afternoon that creamed Street guesstimates by 10 cents per share. Intuitive posted earnings per share of $1.28 versus analyst consensus of $1.18.

For the 23rd quarter in a row, just like clockwork and without missing a beat, Intuitive's top and bottom line growth simply ignored the global economy, blazing its own trail. I wonder how ISRG would have done if the economy was not in the dumps?

Overall, second quarter revenue shot up 56% from $142.2 million to $219.2 million. Instruments and accessories revenue increased 61% to $73.6 million from $45.8 million. Training revenue increased 44% to $29.4 million from $20.3 million during the second quarter of 2007.

Lonnie Smith, Chairman and CEO of Intuitive Surgical, said, "We are pleased with our second quarter revenue and earnings growth. These results reflect the continued adoption of the da Vinci Surgical System platform across a broadening group of surgical procedures."

Today was an amazing day for shareholders of Intuitive Surgical (NASDAQ: ISRG) which closed up $48.51 (32.32%) to $198.59. This fete was accomplished on a dour day in the stock market when most companies watched share prices drop. The ISRG bounce followed a spectacular earnings report Thursday July 19: Intuitive Surgical Announces $140.2 Million Second Quarter Revenue, Up 61 Percent; Net Income Increases 84 Percent

This stock is the only stock I own that is a pure play growth story and the metrics are wild. I cannot really advise anyone what a fair price would be, because I do not know. About the only thing you can do with a stock like this is try to build a position on pull backs, but there have not been many lately.

I have written about ISRG many times and I have had many friends that bought shares at much lower prices ask me what might stop this company or stock and the answer is -- "I don't know". I know why I bought it. I know the reasons I bought it remain intact, if not even more secure now then ever.