Ken Fisher’s Top 5 Healthcare Stock Picks

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

Fisher Asset Management’s Stake Value: $1,519,633,000

Number of Hedge Fund Holders: 68

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a biotechnology company that manufactures medical equipment for patient monitoring, care, and minimally invasive surgical procedures. On July 20, Intuitive Surgical, Inc. (NASDAQ:ISRG) reported a Q2 revenue of $1.76 billion and a non-GAAP EPS of $1.42, which exceeded the market consensus by  $20 million and $0.09, respectively. Ken Fisher, as of the second quarter of 2023, held 4.4 million shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) worth $1.52 billion, making it one of his top healthcare stocks. 

According to Insider Monkey’s second quarter database, 68 hedge funds held stakes in Intuitive Surgical, Inc. (NASDAQ:ISRG). In contrast, 67 hedge funds had invested in the company during the preceding quarter. Ken Griffin’s Citadel Investment Group held a prominent stake in the company, with 1.91 million shares worth $663.9 million.

Baron Health Care Fund had this to say about Intuitive Surgical, Inc. (NASDAQ:ISRG) in its second quarter 2023 investor letter:

“Strength in health care equipment was largely due to the outperformance of sleep apnea device company Inspire Medical Systems, Inc. and robotic surgery system pioneer Intuitive Surgical, Inc. (NASDAQ:ISRG). Intuitive Surgical, Inc. manufactures and markets the da Vinci Surgical System, a robotic system used for minimally invasive procedures. Shares increased after Intuitive reported strong first quarter financial results highlighted by a 26% increase in procedures and raised guidance for 2023. These results, which came in well above Street estimates, were driven by strength in general surgery procedures in the U.S. and non-urology procedures outside the U.S. We continue to believe Intuitive has a large opportunity to expand the use of robotic surgery over time.”