Is Intuitive Surgical (ISRG) a Good Buy?
Baron Funds, an investment management company, released its “Baron Health Care Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased by 9.08% (Institutional Shares) compared to an 11.54% gain for the Russell 3000 Health Care Index and a 7.56% gain for the S&P 500 Index. The fund fell 16.90% in 2022, compared to a 6.10% decline for the Russell 3000 Health Care Index and an 18.11% decline for the S&P 500 Index. Factors like cash exposure in the up-market, adverse stock selection, and differences in sub-industry exposures led the fund to underperform in the quarter relative to its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds highlighted stocks like Intuitive Surgical, Inc. (NASDAQ:ISRG) in the Q4 2022 investor letter. Headquartered in Sunnyvale, California, Intuitive Surgical, Inc. (NASDAQ:ISRG) manufactures and markets da Vinci Surgical System. On January 27, 2023, Intuitive Surgical, Inc. (NASDAQ:ISRG) stock closed at $247.26 per share. One-month return of Intuitive Surgical, Inc. (NASDAQ:ISRG) was -6.82%, and its shares lost 12.99% of their value over the last 52 weeks. Intuitive Surgical, Inc. (NASDAQ:ISRG) has a market capitalization of 87.378 billion.
Baron Funds made the following comment about Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q4 2022 investor letter:
"Intuitive Surgical, Inc. (NASDAQ:ISRG) sells the da Vinci robotic surgical system. The stock rose in response to solid third quarter financial results, highlighted by 20% procedure growth, well ahead of investor expectations. The company also completed another $1 billion accelerated share repurchase program, signaling management’s and the board’s view that the stock is a good buy. We continue to believe Intuitive Surgical has a long runway for growth as more procedures are performed using the da Vinci system."
Stoyan Yotov/Shutterstock.com
Intuitive Surgical, Inc. (NASDAQ:ISRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held Intuitive Surgical, Inc. (NASDAQ:ISRG) at the end of the third quarter, which was 56 in the previous quarter.
We discussed Intuitive Surgical, Inc. (NASDAQ:ISRG) in another article and shared the list of best medical technology stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
