14 Best 52-Week High Stocks to Buy According to Short Sellers

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

52 Week Range: $481.25 – $491.56

Current Share Price: $487.17

Short interest rate: 1.05%

Number of Hedge Fund Holders: 67

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a healthcare company that develops, manufactures, and sells products that enable physicians and healthcare providers to enhance access to minimally invasive care. It offers the da Vinci Surgical System, which enables complex surgery using a minimally invasive approach.

According to short sellers, the global technology leader in robotic-assisted minimally invasive surgery is one of the best 52-week high stocks to buy. It is poised for growth in the coming quarters, courtesy of its strength in robotics. Last year, the unit recorded a 14% increase in revenues, attributed to rising demand for its instruments and accessories for minimally invasive procedures.

Intuitive Surgical, Inc. (NASDAQ:ISRG) increasingly benefits from the transition towards less invasive procedures, driving up the need for its da Vinci robotic surgical systems. A favorable expansion forecast, backed by strong basic characteristics, provides a favorable environment for assessing any potential investment.

In the second quarter, the company surpassed 9,800 installed systems. The number of systems used increased by 14% annually in the quarter, indicating a strong growth trend. This is because the majority of installations are either new or add-ons rather than replacing existing systems. Its adjusted EPS of $1.78 surpassed consensus estimates of $1.54 on revenues increasing 14.2% to $2 billion.

Growth in procedure volume, higher price realization for procedures, and increased system placements are expected to propel the company’s revenue in the future. At the same time, the introduction of Intuitive Surgical, Inc. (NASDAQ:ISRG)’s newest robotic system, the da Vinci 5, showed a high interest in the company’s latest offering. After the da Vinci 5 was introduced in March, the company installed 70 units in the second quarter, significantly increasing from the eight units installed in the first quarter.

In the second quarter, 67 hedge funds held long positions in Intuitive Surgical, Inc. (NASDAQ:ISRG), with a combined stake value of $6.4 billion.

Here is what Baron Funds said about Intuitive Surgical, Inc. (NASDAQ:ISRG) in its second-quarter 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.”