5 Latest Stock Picks of Chinese Billionaire Chen Tianqiao’s Shanda Asset Management

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

Shanda Asset Management’s Stake Value: $6.9 million

Percentage of Shanda Asset Management’s 13F Portfolio: 0.72%

Number of Hedge Fund Holders: 61

Intuitive Surgical, Inc. (NASDAQ:ISRG) is an American firm that sells surgical products in the country and globally. Its products allow medical professionals to practice their skills, conduct a variety of surgeries such as those involving the heart and gynecology, alongside augmented reality imaging products.

In its fiscal Q3, Intuitive Surgical, Inc. (NASDAQ:ISRG) brought in $1.4 billion in revenue and $1.19 in non-GAAP EPS, beating analyst estimates for both. UBS raised its price target to $352 from $323 in October 2021, sharing that supply chain constraints are not as serious as imagined.

Shanda Asset Management bought 21,000 Intuitive Surgical, Inc. (NASDAQ:ISRG) shares during the third quarter of last year. This enabled it to take a $6.9 million stake in the company which represented 0.72% of its portfolio. 61 of 867 hedge funds researched by Insider Monkey in Q3 2021 owned the company’s shares.

Wells Fargo raised the surgical equipment provider’s price target to $381 from $354 in October 2021, outlining that the strong quarterly earnings had merited the increase.

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s largest investor is Ken Fisher’s Fisher Asset Management who owns 1.3 million shares worth $1.3 billion.

Ensemble Capital mentioned Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q1 2021 investor letter outlining that:

“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.”