Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund advanced 8.92% (Institutional Shares) in the quarter compared to an 8.52% gain for the Russell 3000 Health Care Index (benchmark) and a 10.56% increase for the S&P 500 Index. The fund rose 13.61% on an annualized basis since its inception on April 30, 2018, compared to an 11.45% gain for the benchmark and a 14.24% gain for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron Health Care Fund featured stocks like Intuitive Surgical, Inc. (NASDAQ:ISRG) in the first quarter 2024 investor letter. Headquartered in Sunnyvale, California, Intuitive Surgical, Inc. (NASDAQ:ISRG) manufactures and markets da Vinci Surgical System. On April 22, 2024, Intuitive Surgical, Inc. (NASDAQ:ISRG) stock closed at $368.93 per share. One-month return of Intuitive Surgical, Inc. (NASDAQ:ISRG) was -5.64%, and its shares gained 27.20% of their value over the last 52 weeks. Intuitive Surgical, Inc. (NASDAQ:ISRG) has a market capitalization of $132.907 billion.
Baron Health Care Fund stated the following regarding Intuitive Surgical, Inc. (NASDAQ:ISRG) in its first quarter 2024 investor letter:
“Intuitive Surgical, Inc. (NASDAQ:ISRG) sells the da Vinci surgical robotic system for minimally invasive surgical procedures. The stock rose after the company announced the planned launch of the da Vinci 5, its next-generation, multiport robotic system. The new system has 10,000 times the computing power of its predecessor and features over 150 design upgrades such as force feedback, improved visualization, and productivity enhancements. Intuitive plans to launch the device at a small number of customers in the U.S. before releasing it more broadly. We think the da Vinci 5 will enable Intuitive to continue to generate strong revenue and earnings growth and maintain its competitive edge.”
A medical team performing minimally invasive surgery with a da Vinci Surgical System.
Intuitive Surgical, Inc. (NASDAQ:ISRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Intuitive Surgical, Inc. (NASDAQ:ISRG) was held by 82 hedge fund portfolios, up from 78 in the previous quarter, according to our database.
We previously discussed Intuitive Surgical, Inc. (NASDAQ:ISRG) in another article, where we shared the list of best stocks to buy according to financial media. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 40 Best Business Schools in the World for 2024
- 15 Best Affordable Dividend Stocks To Invest In Right Now
- 10 Best Soaps and Cleaning Materials Stocks to Buy
Disclosure: None. This article is originally published at Insider Monkey.
