Growth stocks aren't getting much love from investors these days. However, these companies aren't all faring poorly in the current market despite what broadly depressed share prices might suggest.

If you have the cash to invest right now and are looking to add some powerhouse growth stocks to your portfolio before year's end, here are three notable contenders to consider. 

1. Vertex Pharmaceuticals

Vertex Pharmaceuticals (VRTX 0.88%) isn't a household name like some healthcare stocks, but this biopharmaceutical company has grown into a giant in the rare disease drug market over the more than three decades since its founding.

So far, it has maintained an enviable record of revenue growth and profitability solely from its portfolio of four cystic fibrosis medicines. In fact, its cystic fibrosis products generated $7.6 billion in revenue for all of 2021, in a market that was valued at around $9 billion as of 2020.

Now, Vertex could be on the cusp of expanding its portfolio beyond cystic fibrosis into another fast-growing, under-targeted segment of the rare disease drug market: blood disorders. Exa-cel, the gene-editing candidate it's developed with CRISPR Therapeutics, which management says has the potential to be a one-time functional cure for multiple rare blood disorders, is currently undergoing a process of global regulatory submissions, which is expected to conclude in early 2023. 

Meanwhile, Vertex's pipeline features a host of other promising candidates. In the most recent earnings call, CEO Reshma Kewalramani affirmed, "We are at an important inflection point for the company. Each of our clinical stage programs, sickle cell disease and beta-thalassemia, acute pain, AMKD, type 1 diabetes and AATD is a first-in-class or best-in-class approach that holds the promise to transform the disease, and each represents a multibillion-dollar opportunity." 

The past five years have seen Vertex grow its net income by a whopping 800% and its operating cash flow by more than 200%. This strong performance even in a broadly volatile market (the stock is up about by about 40% from where it was trading a year ago) has proven the resilience of its core underlying business model. The stock could prove to be a continued long-term winner for buy-and-hold investors in the current market and well beyond. 

2. Intuitive Surgical 

Intuitive Surgical (ISRG -0.56%) has seen its shares drop by around 30% since the start of this year, but this decline hasn't arisen from deficiencies specific to the underlying business. Instead, a big factor behind the healthcare stock's decline has been investor nervousness at the fluctuating procedure volumes that Intuitive has experienced as COVID-19 cases have surged and fallen. 

Intuitive Surgical's growth has decelerated as it has installed fewer da Vinci surgical systems; plus, fewer procedures using these systems have been carried out. The impact of weak foreign currency dynamics has also been a relevant factor in recent earnings reports. However, the company has continued to grow its top line steadily while remaining profitable. Plus, the most recent quarter saw the company make significant headway from the drop in procedure volumes it reported earlier in 2022. 

Intuitive Surgical generated revenue of $1.6 billion in the quarter, an 11% increase from the year-ago period, driven by 15% and 3% growth respectively in instrument/accessories revenue and systems revenue. While net income was down year-over-year, the company still reported GAAP earnings of $324 million. Management also reported that 20% more da Vinci procedures were completed in the third quarter, and its installed base of systems was 13% higher than one year ago. 

Bear in mind, this follows a decade in which Intuitive Surgical's annual revenue and earnings have both grown by approximately 160%. The company remains the driving force in the global surgical robotics market. This is a space on track to hit a valuation of $18 billion by 2030, of which Intuitive Surgical currently controls a market share of around 80%.

Intuitive Surgical's considerable market opportunity, strong core financials, and durable razor-and-blades business model (the company doesn't just generate revenue from selling its surgical systems, but long-term revenue from replacing parts in these systems) make it a no-brainer addition to a well-diversified portfolio. 

3. Chewy 

Chewy (CHWY -1.81%) is also trading down by about 30% from the beginning of 2022. This is another example of a stock that has seen shares fall fairly drastically without a correlating decline in the quality of the underlying business. 

Chewy is quickly expanding its footprint within the pet products market, a space that generated $124 billion in sales in the U.S. alone in 2021. According to statistics from the American Pet Products Association, consumers spent $50 billion on pet food and treats last year, and $30 billion on products like supplies and over-the-counter medicines. 

Besides items like food, bedding, and toys for household pets, Chewy also sells products for farm animals like chickens and goats, as well as horses. However, this is just the tip of the iceberg for Chewy. The company's competitive advantage within the broader pet products industry lies in the rapid diversification of its business model, with is quickly expanding to meet the full spectrum of pet owner needs. 

From its automated fulfillment network to its booming pharmacy business -- which allows pet owners to do everything from buy generic and compounded pet medications to access a licensed veterinarian via chat or video call -- to its comprehensive selection of pet insurance and wellness plans, Chewy is quickly covering all the bases. The past three years alone have seen Chewy grow its annual revenue by more than 80%.

Meanwhile, Chewy reported $43 million in net income for the first nine months of 2022, compared to a net loss of $10 million in the same period in 2021. Given Chewy's growing footprint in the explosive pet products industry, a space that generates relatively consistent demand even in down markets, this stock could pose a compelling buy for long-term investors.