5 Best Robotics Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 69

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a Sunnyvale, California-based developer, manufacturer, and marketer of robotic products related to the field of medical technology. The Da Vinci Surgical System is the prime offering of the company that aids in robotic-assisted surgery.

On November 14, Richard Newitter at Truist increased the price target on Intuitive Surgical, Inc. (NASDAQ:ISRG) from $260 to $300 and maintained a Buy rating on the stock. The analyst made this revision after meeting with the management of MedTech companies in the San Francisco Bay area. Newitter shared that the meetings yielded positive results and provided more clarity on the capital outlook and visibility of Intuitive Surgical, Inc. (NASDAQ:ISRG). The company is focused on controlling operating expenditures next year, which is expected to give a boost to its margins.

Baron Funds shared its positive outlook on one of the best robotics stocks in its Q3 2022 investor letter. Here’s what the firm said:

“We added to our position in Intuitive Surgical, Inc. (NASDAQ:ISRG), a medical device company which sells the da Vinci robotic surgical system. The stock declined during the quarter due to a slowdown in systems sales. Hospitals are cutting capex budgets due to higher inflation, higher interest rates, supply-chain challenges, and staffing shortages. Although there is risk that systems sales could remain under pressure in the near term, we think solid procedure volume results can continue. We think the long-term outlook for Intuitive is positive based on our view that the company has a long runway to convert more procedures to robotic procedures. During the quarter, the company announced a $1 billion accelerated share repurchase program, which we view as a positive signal about the valuation and business prospects.”

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