10 Stocks That Will Make You Rich in 5-10 Years

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

Number of Hedge Fund Holders as of Q2: 67

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a healthcare company that develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care.

Its Robots are becoming increasingly popular for enhancing minimally invasive procedures. By the second quarter of 2024, the company had installed more than 9,000 systems. Given that the installed base grew 14% year over year in Q2 underlines the healthy growth momentum.

The second-quarter earnings report from Intuitive Surgical, Inc. (NASDAQ:ISRG) showed a mixed bag of encouraging outcomes. Thanks to a 17% increase in the number of procedures carried out while utilizing its da Vinci robotic surgical suites, net income increased by 26.7% to $527 million.

Things continue to look positive in the long run because one of Intuitive’s most significant advantages is that it regularly expands the number of hospitals where its systems are installed and then upsells current clients on newly designed equipment and training PROGRAMS.

The market for robotic surgical systems is far from saturated, despite the fact that competition will only get stronger shortly. Furthermore, Intuitive Surgical, Inc. (NASDAQ:ISRG)’s rivals are insignificant enough to pose a threat over the long term, at least not yet.

With no debt, Intuitive is in a solid financial position with over $3 billion in cash, equivalents, and investments. Nevertheless, Intuitive Surgical, Inc. (NASDAQ:ISRG) trades at a premium with a forward price-to-earnings multiple of 64. As of the second quarter, 67 hedge funds tracked by Insider Monkey held stakes in the stock. Fisher Asset Management was the largest stakeholder, holding 4.70 million shares valued at $2.09 billion.