5 Best Medical Technology Stocks to Buy

4. Intuitive Surgical, Inc. (NASDAQ:ISRG)

Number of Hedge Fund Holders: 56 

Intuitive Surgical, Inc. (NASDAQ:ISRG) develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality and access to minimally invasive care. The firm is among the best medical technology stocks to invest in. On September 22, the company announced that it had entered into an agreement with fiber optics company Luna Innovations for the supply of photonic subsystems in a contract worth $14.2 million.  

On September 9, Stifel analyst Rick Wise maintained a Buy rating on Intuitive Surgical, Inc. (NASDAQ:ISRG) stock and raised the price target to $260 from $250, highlighting the company’s raised 2023 sales and EPS estimates. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Intuitive Surgical, Inc. (NASDAQ:ISRG), with 4.6 million shares worth more than $923 million. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Intuitive Surgical, Inc. (NASDAQ:ISRG) was one of them. Here is what the fund said:

“Intuitive Surgical, Inc. (NASDAQ:ISRG) markets the da Vinci Surgical System, a robotic system used for minimally invasive surgical procedures. The stock declined along with other premium valuation, high-growth names due to investor concerns around inflation and rising interest rates. The potential for a more challenging sales environment for Intuitive’s hospital customer base also played a role. We continue to believe Intuitive has a long runway to expand the number of procedures performed using its robotic system.”