5 Biotech Stocks to Buy According to Billionaire Ken Fisher

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

Number of Hedge Fund Holders: 61    

Intuitive Surgical, Inc. (NASDAQ:ISRG) markets surgical equipment and accessories. According to the latest data, Fisher Asset Management owned 1.3 million shares in Intuitive Surgical, Inc. (NASDAQ:ISRG) at the end of September 2021 worth $1.3 billion, representing 0.84% of the portfolio of the fund. 

On October 20, investment advisory Wells Fargo maintained an Overweight rating on Intuitive Surgical, Inc. (NASDAQ:ISRG) stock and raised the price target to $381 from $354, appreciating the third quarter earnings results of the firm. 

At the end of the third quarter of 2021, 61 hedge funds in the database of Insider Monkey held stakes worth $3.5 billion in Intuitive Surgical, Inc. (NASDAQ:ISRG), up from 60 the preceding quarter worth $3.4 billion.

In its Q1 2021 investor letter, Ensemble Capital, an asset management firm, highlighted a few stocks and Intuitive Surgical, Inc. (NASDAQ:ISRG) was one of them. Here is what the fund said:

“Notable detractors to the Fund’s returns this quarter (included) Intuitive Surgical. Intuitive Surgical’s (6.3% weight in the Fund) growth slowed in 2020 as COVID hit the brakes on many elective surgeries. Given continued COVID-related risks in the US and Europe in 2021, it’s still unclear as to when elective surgeries recover to more normal levels. As such, hospitals may be holding off on planned surgical robot investments until demand rebounds. That said, in Asia, where COVID has been well contained, Intuitive Surgical’s procedures and systems utilizations improved, which bodes well for recovery in the US and EU. Most procedures can’t be delayed indefinitely or canceled, so we continue to expect a resumption of strong, durable growth as the pandemic recedes.”