Coatue Management’s portfolio was worth around $35 billion at the end of June. Philippe Laffont, known for his successful tech investments, founded the hedge fund in 1999. Coatue closed out its position in Super Micro Computer but increased its stake in Intuitive Surgical, a robot-assisted surgery pioneer. Laffont’s contrarian investment in Supermicro earlier this year raised eyebrows. Coatue bought no shares of Supermicro by the end of June. Meanwhile, it acquired over 39,000 shares of Intuitive Surgical in the second quarter. Intuitive Surgical stock has dropped this year, but Laffont sees potential for a rebound. The company has seen significant growth since its IPO 25 years ago. It remains the industry leader with over 11,000 systems installed in hospitals worldwide. Surgical teams using Intuitive’s systems performed millions of procedures last year. Recurring revenue sources drive around 84% of the company’s total revenue. Despite challenges, Intuitive Surgical forecasts procedure growth and significant revenue growth ahead. Medtronic’s entry into the surgical robot market raises some concerns, but Intuitive’s established presence offers a competitive advantage. Investors with high risk tolerance may consider adding Intuitive Surgical to their portfolio.

Read more at Yahoo Finance: Billionaire Phillipe Laffont Sold Coatue Management’s Stake in Super Micro Computer and Snapped Up This Surgical Robotics Pioneer That’s Up 19,390% Since Its IPO