Investors are Watching These 5 Biotech Stocks

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

Number of Hedge Fund Holders: 65    

Intuitive Surgical, Inc. (NASDAQ:ISRG) markets surgical equipment and accessories. The company is one of the leading names in the robotic surgical instrumentation market. In the post-pandemic market, the company has started posting strong revenue numbers as elective surgeries are restarted after being reduced significantly due to COVID-19. On June 19, the firm was placed among a basket of pharma stocks that were deemed “stable” for a volatile marketplace by Goldman Sachs analyst David Kostin. 

On April 22, Raymond James analyst Lawrence Keusch maintained an Outperform rating on Intuitive Surgical, Inc. (NASDAQ:ISRG) stock and lowered the price target to $330 from $334, lauding the earnings beat of the firm on procedure growth. 

At the end of the first quarter of 2022, 65 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Intuitive Surgical, Inc. (NASDAQ:ISRG), up from 63 the preceding quarter worth $4.2 billion.

In its Q4 2021 investor letter, ClearBridge Investments, 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), a maker of robotic instruments for soft tissue surgery, was another new health care addition. The market for soft tissue procedures is enormous, including those performed with the aid of the company’s DaVinci machines, whose three-dimensional imaging capabilities require smaller incisions, resulting in less nerve damage and bleeding and shorter patient stays. DaVinci machines are a $1 million-plus investment by hospitals that can be run continuously through the day, allowing for a greater number of procedures with less physician fatigue. Surgeons are trained on the device from medical school and residency on up. Combining the related training and supply chains, these purchases are very sticky. We see the opportunity for Intuitive Surgical, Inc. (NASDAQ:ISRG) to benefit from more indications for the devices, procedure growth, and greater sales in hospitals and surgical centers.”