ClearBridge Investments, an investment management firm, published its “All Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge All Cap Growth Strategy underperformed its Russell 3000 Growth Index benchmark in the fourth quarter. On an absolute basis, the Strategy generated gains across seven of the eight sectors in which it was invested (out of 11 sectors total). The primary contributors to performance were the IT and health care sectors while the sole detractor was the communication services sector Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge All Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Intuitive Surgical, Inc. (NASDAQ:ISRG) and discussed its stance on the firm. Founded in 1995, Intuitive Surgical, Inc. (NASDAQ:ISRG) is a Sunnyvale, California-based robotic-assisted minimally invasive surgery (MIS) devices provider with a $108.5 billion market capitalization, and is currently spearheaded by its CEO, Gary S Guthart. Intuitive Surgical, Inc. (NASDAQ:ISRG) delivered a -15.88% return since the beginning of the year, while its 12-month returns are up by 18.24%. The stock closed at $302.25 per share on April 04, 2022.
Here is what ClearBridge All Cap Growth Strategy has to say about Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q4 2021 investor letter:
“Intuitive Surgical, 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 to benefit from more indications for the devices, procedure growth, and greater sales in hospitals and surgical centers.”
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Our calculations show that Intuitive Surgical, Inc. (NASDAQ:ISRG) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Intuitive Surgical, Inc. (NASDAQ:ISRG) was in 63 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 61 funds in the previous quarter. Intuitive Surgical, Inc. (NASDAQ:ISRG) delivered a -14.77% return in the past 3 months.
In December 2021, we also shared another hedge fund’s views on Intuitive Surgical, Inc. (NASDAQ:ISRG) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
