5 Healthcare Stocks Billionaires Like the Most

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

Number of Billionaire Holders: 21

Sunnyvale, California-based Intuitive Surgical, Inc. (NASDAQ:ISRG) is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery and develops, manufactures, and markets the da Vinci surgical system.

On October 19, Intuitive Surgical, Inc. (NASDAQ:ISRG) released its financial results for Q3 2023. Its revenues increased by 12% y-o-y to $1.7 billion, while it reported a net income of $416 million. It generated a normalized EPS of $1.46, which exceeded consensus estimates by $0.04.

On November 17, Stifel analyst Rick Wise raised the price target for Intuitive Surgical, Inc. (NASDAQ:ISRG) shares to $350 from $315 and maintained a ‘Buy’ rating.

As of Q3 2023, 21 of the billionaires tracked by Insider Monkey owned Intuitive Surgical, Inc. (NASDAQ:ISRG) shares worth $3.1 billion. Ken Fisher’s Fisher Asset Management was the largest shareholder with ownership of 4.4 million shares valued at $1.3 billion.

In its “Baron Fifth Avenue Growth Fund” Q3 2023 investor letter, Baron Funds, an investment management company, made the following comments about Intuitive Surgical, Inc. (NASDAQ:ISRG):

“Intuitive Surgical, Inc. manufactures and markets the da Vinci Surgical System, a robotic system used for minimally invasive procedures. The stock declined 14.5% during the third quarter due to investor concerns about a slowdown in systems sales and procedures in China, where the government has embarked upon an anti-corruption campaign that may cause disruption in the region. Investors have also reacted to management’s commentary about a potential slowdown in bariatric procedures due to the increased adoption of obesity medications such as Wegovy. We think disruption in China is temporary; meanwhile bariatric procedures represent a small fraction of the overall range of procedures Intuitive targets. We believe the long-term outlook for the company is positive. Procedure growth on Intuitive systems is rising at a solid rate, and we think the business will continue advancing its technological lead as it invests heavily in research and development.”