12 Best Automation Stocks To Buy According to Hedge Funds

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

No. of Hedge Fund Holders: 82

Intuitive Surgical, Inc. (NASDAQ:ISRG) designs and builds cutting-edge robotic-assisted surgical systems. The company uses AI to enhance its robotic systems and assist surgeons to carry out minimally invasive surgeries with higher precision. The company has a strong competitive moat, supported by its da Vinci Surgical System.

On January 24, JPMorgan analyst Robbie Marcus raised the price target on ISRG shares from $575 to $675, keeping an Overweight rating on the shares. The analyst expects the company to continue its strong momentum with the da Vinci 5 Surgical System in 2025. The company’s improved profitability makes it a strong candidate among the few major players in the industry.

With other medical device companies, such as Abbott, ending 2024 on a flat side, Intuitive Surgical, Inc. (NASDAQ:ISRG) shares closed the year 52.6% higher. Baron Health Care Fund stated the following regarding Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q2 2024 investor letter:

“Intuitive Surgical, Inc. (NASDAQ:ISRG) manufactures the da Vinci Surgical System, a robotic surgical system used for minimally invasive procedures. The stock performed well due to excitement about the company’s new robotic surgical system, the da Vinci 5, which offers enhanced imaging, force feedback, and other improvements. We continue to believe Intuitive has durable competitive advantages and will remain the market leader in robotic surgery. We think the company has a long runway for growth as more procedures are performed with the company’s equipment.”