In this article, we discuss 13 best robotics stocks to buy now.

The global robotics market was worth $27.73 billion in 2020 and is forecasted to reach $74.1 billion by 2026, indicating a CAGR of 17.45% during the period of 2021 to 2026. The COVID-19 pandemic propelled the robotics industry into an era of fast-paced growth, as strict hygienic demands resulted in a new niche for service robots, in addition to robotics already used vastly by medical device companies. Resultantly, many manufacturers and customers invested in new disinfection robots in 2020. Similarly, food and package deliveries increased vastly during pandemic years, which triggered higher demand for delivery robots. Sales of professional service robots climbed by 37% in 2021, as per a report by the International Federation of Robotics.

The industrial robotics market is expected to grow from $15.7 billion in 2022 to $30.8 billion by 2027, registering a CAGR of 14.3% during the forecast period. Industrial robotics is one of the most promising subsectors in this space. One of the latest and most hyped IPOs in the robotics sector is Nauticus Robotics, Inc. (NASDAQ:KITT), a provider of ocean robotic solutions and cloud software to the ocean industry. Nauticus Robotics, Inc. (NASDAQ:KITT) debuted as a publicly traded company on September 13, 2022 and it seeks $90 million in revenue next year. Nauticus went public via a SPAC merger with New York-based CleanTech Acquisition Corp, and the SPAC deal was worth $560 million when it was first announced in December 2021. Nauticus is aiming to capitalize on market interest in companies working to reduce water pollution. 

Some of the best robotics stocks to buy now include Intuitive Surgical, Inc. (NASDAQ:ISRG), Honeywell International Inc. (NASDAQ:HON), and Rockwell Automation, Inc. (NYSE:ROK). 

Our Methodology 

We selected the following robotics stocks based on positive analyst coverage, strong business fundamentals, and future growth prospects. We have assessed the hedge fund sentiment from Insider Monkey’s database of 920 elite hedge funds tracked as of the end of the third quarter of 2022. 

Best Robotics Stocks To Buy Now

13. ReWalk Robotics Ltd. (NASDAQ:RWLK)

Number of Hedge Fund Holders: 3

ReWalk Robotics Ltd. (NASDAQ:RWLK) is an Israel-based medical device company that designs, develops, and commercializes robotic exoskeletons for people with mobility impairments in the United States, Europe, the Asia Pacific, and Africa. The company offers rehabilitation solutions including ReWalk Personal, ReWalk Rehabilitation, ReStore, MyoCycle, and MediTouch. 

H.C. Wainwright analyst Swayampakula Ramakanth on November 15 raised the price target on ReWalk Robotics Ltd. (NASDAQ:RWLK) to $3 from $2.50 and maintained a Buy rating on the shares.

According to Insider Monkey’s Q3 data, Hal Mintz’s Sabby Capital, Jim Simons’ Renaissance Technologies, and Israel Englander’s Millennium Management held stakes in ReWalk Robotics Ltd. (NASDAQ:RWLK) worth $782,000, $97,000, and $86,000, respectively. 

In addition to Intuitive Surgical, Inc. (NASDAQ:ISRG), Honeywell International Inc. (NASDAQ:HON), and Rockwell Automation, Inc. (NYSE:ROK), ReWalk Robotics Ltd. (NASDAQ:RWLK) is one of the best robotics stocks to monitor. 

12. Arbe Robotics Ltd. (NASDAQ:ARBE)

Number of Hedge Fund Holders: 4

Arbe Robotics Ltd. (NASDAQ:ARBE) was founded in 2015 and is headquartered in Tel Aviv-Yafo, Israel. It is a semiconductor company that offers 4D imaging radar solutions for tier-1 automotive manufacturers in Israel and the United States. Its product lines include Robot Shuttles & Taxis, which provide on-demand transportation services in dense urban environments surrounded by multiple static and moving obstacles. Arbe Robotics Ltd. (NASDAQ:ARBE) is one of the best robotics stocks to buy now. 

On November 15, Arbe Robotics Ltd. (NASDAQ:ARBE) announced that HiRain Technologies, a Chinese ADAS Tier 1 supplier, placed its first mass quantity commercial order for 2023 and 2024, propelling Arbe Robotics Ltd. (NASDAQ:ARBE) into mass production phase. The order comprises 340,000 radar chipsets that will be supplied to HiRain’s customers throughout China.

R.F. Lafferty analyst Jaime Perez on November 21 maintained a Buy recommendation on Arbe Robotics Ltd. (NASDAQ:ARBE) but lowered the firm’s price target on the shares to $9 from $12 following the Q3 results.

According to Insider Monkey’s data, 4 hedge funds held stakes worth $16.93 million in Arbe Robotics Ltd. (NASDAQ:ARBE) at the end of the third quarter of 2022, compared to 5 funds in the prior quarter worth $16.94 million. Ben Levine, Andrew Manuel, and Stefan Renold’s LMR Partners held the biggest stake in the company, comprising 2.70 million shares valued at $16.20 million. 

11. Nauticus Robotics, Inc. (NASDAQ:KITT)

Number of Hedge Fund Holders: 4

Nauticus Robotics, Inc. (NASDAQ:KITT) is a Texas-based company that develops and provides ocean robotic solutions and cloud software to the ocean industry. On November 14, Nauticus Robotics, Inc. (NASDAQ:KITT) reported a Q3 revenue of $2.98 million, climbing 51.3% on a year-over-year basis, beating Wall Street estimates by $0.51 million. 

On October 17, Lake Street analyst Troy Jensen reiterated a Buy rating on Nauticus Robotics, Inc. (NASDAQ:KITT) but trimmed the price target on the shares to $9 from $14. After talking with the management following the announcement with the U.S. Defense Innovation Unit, the analyst said he believes this win was not factored into Nauticus Robotics, Inc. (NASDAQ:KITT)’s guidance during the SPAC process and “could be nicely incremental” if the company wins the next stage of this program. His reduced price target is due to multiple compression since he assumed coverage of the stock, the analyst wrote in a research note.

Among the hedge funds tracked by Insider Monkey, 4 funds reported owning stakes worth $2.36 million in Nauticus Robotics, Inc. (NASDAQ:KITT) at the end of the third quarter of 2022. 

10. Asensus Surgical, Inc. (NYSE:ASXC)

Number of Hedge Fund Holders: 4

Asensus Surgical, Inc. (NYSE:ASXC) is a North Carolina-based medical device company that is focused on the research, development, and commercialization of medical device robotics to advance minimally invasive surgery in the United States, Europe, and Asia. Asensus Surgical, Inc. (NYSE:ASXC)’s products include Senhance Surgical System, a multi-port robotic surgery system that allows up to four arms to control robotic instruments and a camera for laparoscopic procedures. 

On September 28, Asensus Surgical, Inc. (NYSE:ASXC) reported that the Clinic for General and Visceral Surgery at the St. Bernhard Hospital in Kamp-Lintfort, Germany has entered into an agreement to lease and utilize the Senhance Surgical System.

Cantor Fitzgerald analyst Ross Osborn on September 9 initiated coverage of Asensus Surgical, Inc. (NYSE:ASXC) with an Overweight rating and a $1.50 price target. Asensus Surgical, Inc. (NYSE:ASXC) is a “fast-growing,” robotic-assisted surgery company that is digitizing the interface between the surgeon and patient to allow performance-guidance surgery through machine vision, augmented intelligence, and deep learning capabilities, the analyst told investors. The analyst holds a positive view of the estimated $56 billion laparoscopic surgery market and believes Asensus Surgical, Inc. (NYSE:ASXC) shares are “attractively valued.”

According to Insider Monkey’s Q3 data, 4 hedge funds were long Asensus Surgical, Inc. (NYSE:ASXC), compared to 7 funds in the prior quarter. The collective stakes held by elite funds in Q3 amounted to $1.30 million, versus $2.48 million in Q2 2022. 

9. Novanta Inc. (NASDAQ:NOVT)

Number of Hedge Fund Holders: 17

Novanta Inc. (NASDAQ:NOVT) is a Massachusetts-based company that designs, manufactures, and markets photonics, vision, precision motion components, and subsystems to original equipment manufacturers in the medical and industrial markets worldwide. The company’s Precision Motion segment offers intelligent robotic end-of-arm technology solutions. Novanta Inc. (NASDAQ:NOVT) is one of the premier robotics stocks to invest in. 

On November 8, Novanta Inc. (NASDAQ:NOVT) reported a Q3 non-GAAP EPS of $0.81 and a revenue of $223 million, outperforming Wall Street estimates by $0.07 and $7.63 million, respectively. Revenue for the period gained 25.5% on a year-over-year basis. For full-year 2022, Novanta Inc. (NASDAQ:NOVT) expects GAAP revenue of approximately $857 million to $859 million, indicating a growth of 21%-22% versus a consensus of $851.65 million. The company forecasts adjusted diluted EPS to be in the range of $3.02 to $3.06, compared to a consensus of $3.01. 

According to Insider Monkey’s data, 17 hedge funds were long Novanta Inc. (NASDAQ:NOVT) at the end of September 2022, compared to 21 funds in the prior quarter. The collective stakes held by elite funds in Q3 2022 stood at nearly $130 million, compared to $190 million in Q2 2022. 

Here is what Andvari Associates has to say about Novanta Inc. (NASDAQ:NOVT) in its Q4 2021 investor letter:

“Andvari started a position in Novanta within the last two years. We’ve allowed it to fly under the radar. However, with Novanta being a top performing position in Andvari’s portfolio during 2021, it’s appropriate to introduce you to the company.

Novanta is a company in a similar vein as Danaher and Roper. The company acquires niche businesses that make highly engineered solutions based on proprietary technology. These solutions are typically embedded in customer products for about ten years and provide enormous value for their cost. For example, Novanta’s subsidiaries provide the sub-systems that enable the precision motion required by robotic surgery or the proper functioning of high throughput DNA sequencers.

Novanta has also developed its own program of continuous improvement and growth: the Novanta Growth System (NGS). There is still ample room to apply NGS across current subsidiaries as well as all future acquisitions.

From 2012 to the last trailing twelve months (as of 9/30/21), Novanta has grown adjusted revenues at a 13% annualized rate. Adjusted EBITDA has grown at a 14.9% annualized rate. The company has achieved these growth rates by divesting and acquiring several businesses since 2012. Importantly, the company has acquired businesses using its cash flows and debt, not by issuing equity and diluting current shareholders.

As of the last twelve months, Novanta earned about $650 million in revenues with EBITDA margins in the high teens. With a focus on acquiring niche businesses and applying NGS, Novanta is still in the early stages of compounding value at high rates.”

8. AeroVironment, Inc. (NASDAQ:AVAV)

Number of Hedge Fund Holders: 18

AeroVironment, Inc. (NASDAQ:AVAV) is a Virginia-based company that designs, develops, and produces a portfolio of robotic systems for government agencies and enterprises in the United States and internationally. It operates through four segments – Unmanned Aircraft Systems, Tactical Missile System, Medium Unmanned Aircraft Systems, and High Altitude Pseudo-Satellite Systems. AeroVironment, Inc. (NASDAQ:AVAV) is one of the top robotics stocks to monitor. 

On November 18, Canaccord analyst Austin Moeller raised the price target on AeroVironment, Inc. (NASDAQ:AVAV) to $105 from $100 and maintained a Buy rating on the shares. While the analyst acknowledged that the full procurement details of the Ukraine aid add-on package to the 2023 budget are not known yet, he cited Switchblade 300 and 600 procurement upside for the raised target.

According to Insider Monkey’s third quarter database, 18 hedge funds were bullish on AeroVironment, Inc. (NASDAQ:AVAV), up from 10 funds in the prior quarter. Cathie Wood’s ARK Investment Management held the largest stake in the company, comprising 750,191 shares worth $62.5 million.  

7. Globus Medical, Inc. (NYSE:GMED)

Number of Hedge Fund Holders: 20

Globus Medical, Inc. (NYSE:GMED) is a Pennsylvania-based medical device company that develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers ExcelsiusGPS, which combines a rigid robotic arm and full navigation capabilities into one platform for accurate alignment in spine surgery. Globus Medical, Inc. (NYSE:GMED) reported a Q3 revenue of $254.15 million, up 10.6% year-over-year, beating analysts’ estimates by $0.51 million.

On October 12, ​​Jefferies analyst Matthew Taylor assumed coverage of Globus Medical, Inc. (NYSE:GMED) with a Buy rating and a $75 price target. The “spine innovator” is experiencing solid momentum in its primary business, supported by its “industry-leading technology,” the analyst told investors. Citing data from Jefferies’ proprietary Spine survey, the analyst expects Globus Medical, Inc. (NYSE:GMED)’s resilient share gains to continue and noted that estimates “look achievable in the near term.” He also said that he appreciates Globus Medical, Inc. (NYSE:GMED)’s expansion into new markets, including trauma and robotics.

Among the hedge funds tracked by Insider Monkey, 20 funds reported owning stakes worth $111.78 million in Globus Medical, Inc. (NYSE:GMED) at the end of September 2022, compared to 21 funds in the prior quarter worth $82.6 million. Brian Ashford-Russell and Tim Woolley’s Polar Capital is the leading position holder in the company, with 725,308 shares valued at $43.20 million. 

Here is what Madison Small Cap Fund has to say about Globus Medical, Inc. (NYSE:GMED) in its Q4 2020 investor letter:

“Healthcare continued its streak of underperformance in the fourth quarter. The biotech industry component of the Russell 2000 was up 34% for the quarter and 53% for the year. While we have become more open to investing in this space where appropriate, we prefer molecular diagnostics given less regulatory risk and better revenue diversification. With the new administration comes a shift in healthcare philosophy. We believe that further access to care and coverage expansion will benefit some parts of the sector. However, the risk of further reimbursement cuts, particularly in pharmaceuticals, will bear monitoring.

Our favorite healthcare stock for 2021 is Globus Medical, a provider of spine implants and robotic solutions in the orthopedic industry. This stock has been a disappointing investment in the three years that we have held it. Though, the company itself has executed extremely well. We think this name is a “coiled spring” in a reopening scenario as management played aggressive offense in 2020. They aggressively have grown their sales force and did not hunker down during the pandemic. Recent quarters suggest that the company has taken considerable share, and this should bear fruit as surgical volumes resume in 2021 and 2022.”

6. Omnicell, Inc. (NASDAQ:OMCL)

Number of Hedge Fund Holders: 23

Omnicell, Inc. (NASDAQ:OMCL) is a California-based company that provides medication management solutions and adherence tools for healthcare systems and pharmacies in the United States and internationally. Among its many offerings are robotic dispensing systems for handling the stocking and retrieval of boxed medications, IV compounding robots, and workflow management systems. 

On November 3, Craig-Hallum analyst Matt Hewitt reiterated a Buy rating on Omnicell, Inc. (NASDAQ:OMCL) but lowered the price target on the shares to $75 from $185. While Q3 results and guide disappointed, the analyst said that he has seen this before and expects the business to rebound.

Among the hedge funds tracked by Insider Monkey, 23 funds reported owning stakes worth $106.3 million in Omnicell, Inc. (NASDAQ:OMCL) at the end of Q3 2022, compared to 19 funds in the prior quarter worth $103.8 million. Ken Griffin’s Citadel Investment Group held a prominent stake in the company, consisting of 346,919 shares valued at $30 million.

Like Intuitive Surgical, Inc. (NASDAQ:ISRG), Honeywell International Inc. (NASDAQ:HON), and Rockwell Automation, Inc. (NYSE:ROK), Omnicell, Inc. (NASDAQ:OMCL) is one of the favorite stock picks of elite investors.

Here is what Carillon Scout Small Cap Fund has to say about Omnicell, Inc. (NASDAQ:OMCL) in its Q1 2022 investor letter:

“Omnicell (NASDAQ:OMCL) provides an integrated suite of clinical infrastructure and workflow automation solutions for healthcare facilities. Cloud services have been a focus of the company and have shown good growth, automating many manual processes.”

5. Zebra Technologies Corporation (NASDAQ:ZBRA)

Number of Hedge Fund Holders: 31

Zebra Technologies Corporation (NASDAQ:ZBRA) is an Illinois-based company that provides enterprise asset intelligence solutions worldwide. The company also specializes in cloud-based software subscriptions and robotics automation solutions, serving retail and e-commerce, manufacturing, transportation and logistics, healthcare, and public sectors. It is one of the best robotics stocks to invest in. 

On November 2, Baird analyst Richard Eastman maintained an Outperform rating on Zebra Technologies Corporation (NASDAQ:ZBRA) but lowered the price target on the shares to $300 from $330. The analyst said that the Q3 sales/EPS miss primarily reflected execution around the supply chain, but large project deceleration was also observed. He reiterated his positive view on Zebra Technologies Corporation (NASDAQ:ZBRA)’s longer-term growth prospects but acknowledged that improved 2023 visibility is probably needed to provide support for future catalysts.

According to Insider Monkey’s data, 31 hedge funds were long Zebra Technologies Corporation (NASDAQ:ZBRA) at the end of September 2022, compared to 33 funds in the prior quarter. John W. Rogers’ Ariel Investments held the largest position in the company, with 477,118 shares worth $125 million. 

Here is what Ariel Investments has to say about Zebra Technologies Corporation (NASDAQ:ZBRA) in its Q3 2020 investor letter:

“Barcode manufacturer Zebra Technologies Corporation (NASDAQ: ZBRA) was another strong performer in the period. Although global supply chain disruptions and weaker demand in China resulted in the company pulling its full year guidance, ZBRA has been delivering revenue and earnings above Wall Street expectations throughout the pandemic. Meanwhile ZBRA is entering the new fiscal year with a solid backlog, driven by orders from larger customers, which include the United States Postal Service. Looking ahead, we believe the company’s diversified end-markets, strong financial position and solid balance sheet will enable ZBRA to continue to weather pandemic related weakness in the enterprise spending environment.”

4. Teradyne, Inc. (NASDAQ:TER)

Number of Hedge Fund Holders: 33

Teradyne, Inc. (NASDAQ:TER) is a Massachusetts-based company that designs, develops, and manufactures automatic test equipment worldwide. The company operates through Semiconductor Test, System Test, Industrial Automation, and Wireless Test segments. The Industrial Automation segment provides collaborative robotic arms, autonomous mobile robots, and advanced robotic control software for manufacturing, logistics, and light industrial applications.  

On November 14, Teradyne, Inc. (NASDAQ:TER) declared a $0.11 per share quarterly dividend, in line with previous. The dividend is distributable on December 21, to shareholders of record on November 28. 

DA Davidson analyst Thomas Diffely on October 27 maintained a Buy rating on Teradyne, Inc. (NASDAQ:TER) but trimmed the price target on the shares to $105 from $120. The analyst noted that while Teradyne, Inc. (NASDAQ:TER) outperformed on Q3 earnings and guided better than expected for Q4, its management expects Q1 2023 performance to be “sub-seasonal” amid weak industrial demand and China headwinds. However, he remains bullish on the stock over the medium-to-long term.

According to Insider Monkey’s Q3 data, 33 hedge funds were bullish on Teradyne, Inc. (NASDAQ:TER), compared to 30 funds in the prior quarter. Alkeon Capital Management is the largest stakeholder of the company, with 2.4 million shares worth nearly $184 million. 

Here is what Carillon Scout Mid Cap Fund has to say about Teradyne, Inc. (NASDAQ:TER) in its Q1 2022 investor letter:

“Semiconductor test equipment and industrial robot producer Teradyne (NASDAQ:TER) fell after offering lower than expected revenue guidance due to fewer orders from its largest customer. Semiconductor equipment companies as a group underperformed as investors feared a general slowdown in semiconductor demand if the global economy slows.”

3. Rockwell Automation, Inc. (NYSE:ROK)

Number of Hedge Fund Holders: 35

Rockwell Automation, Inc. (NYSE:ROK) specializes in industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments – Intelligent Devices, Software & Control, and Lifecycle Services. Rockwell Automation, Inc. (NYSE:ROK) focuses on integrated robot technology and robot automation, and it is one of the premier stocks to consider for exposure to the robotics industry. 

On October 27, Rockwell Automation, Inc. (NYSE:ROK) declared a $1.18 per share quarterly dividend, a 5.4% increase from its prior dividend of $1.12. The dividend is payable on December 12, to shareholders of record on November 14. The dividend yield on November 22 came in at 1.77%. 

Baird analyst Richard Eastman on November 17 raised the price target on Rockwell Automation, Inc. (NYSE:ROK) to $265 from $250 and kept an Outperform rating on the shares. The analyst observed that tighter integration of hardware, software, services, and scalable platforms compatible with vertical specific applications is supporting higher penetration.

Among the hedge funds tracked by Insider Monkey, 35 funds reported owning stakes in Rockwell Automation, Inc. (NYSE:ROK) at the end of Q3 2022, compared to 28 funds in the prior quarter. Israel Englander’s Millennium Management is the largest stakeholder of the company, with 953,525 shares worth $205 million. 

Here is what Harding Loevner Global Equity Fund has to say about Rockwell Automation, Inc. (NYSE:ROK) in its Q1 2022 investor letter:

“Rockwell Automation (NYSE:ROK) is one such provider, which we purchased during the market correction this quarter. The company—still based in Milwaukee, where it developed its first product, a device to control the speed of electric motors, 120 years ago—has a particular focus on North America. Rockwell’s sales growth had stalled during the US capex recession following the recovery from the Global Financial Crisis. The company sold sensors, actuators, valves, and control software, but lacked the ability to weave all these offerings together to provide a single control point for clients wanting to automate an existing plant or build a fully automated new one. Its 2018 minority investment in PTC Inc (NASDAQ:PTC), a Boston-based industrial software firm with a strong capability in augmented reality and visualization tools, marked a turning point in Rockwell’s fortunes. Through this partnership, Rockwell was able to develop software that integrated data from individual business segments, stitching it together on its “FactoryTalk” platform, to give managers a real-time digital picture of their operations. The company is now a chief enabler and beneficiary of reshoring initiatives as a wave of manufacturers scarred by pandemic supply chain disruptions look to automation to help them recreate some of the cost savings that had driven their offshoring in the first place. After hardly growing for seven years, the company saw orders increase 40% in the first quarter over the same period last year and predicted organic sales growth of between 14% and 17%.”

2. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 53

Honeywell International Inc. (NASDAQ:HON) operates as a diversified technology and manufacturing company worldwide. Honeywell Robotics provides products such as Mobile Robotics, Order Picking Technology, Smart Flexible Depalletizers, Robotic Sorter Induction, and Loading and Unloading Automation Technologies. Honeywell International Inc. (NASDAQ:HON) is one of the best robotics stocks to invest in. 

On October 31, Baird analyst Peter Arment raised the price target on Honeywell International Inc. (NASDAQ:HON) to $225 from $202 and maintained an Outperform rating on the shares. The analyst said its strong Q3 bottom-line beat indicates ongoing progress in primary commercial markets and its execution, despite headwinds like supply chain constraints, meaningful declines in warehouse automation, and PPE demand.

According to Insider Monkey’s Q3 data, 53 hedge funds were long Honeywell International Inc. (NASDAQ:HON), compared to 42 funds in the last quarter. Ric Dillon’s Diamond Hill Capital is the largest stakeholder of the company, with 1.13 million shares worth $190.2 million. 

Here is what ClearBridge Investments has to say about Honeywell International Inc. (NASDAQ:HON) in its Q1 2021 investor letter:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included industrials, Honeywell also lagged in the quarter after previously generating strong returns over extended periods.”

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

Number of Hedge Fund Holders: 69

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a California-based company that develops, manufactures, and markets products that enable healthcare professionals to improve the quality and access to minimally invasive care in the United States and internationally. Intuitive Surgical, Inc. (NASDAQ:ISRG)’s Da Vinci Surgical Systems provide integrated technologies for robotic-assisted surgeries. Intuitive Surgical, Inc. (NASDAQ:ISRG) is one of the best robotics stocks to monitor. 

On October 25, Intuitive Surgical, Inc. (NASDAQ:ISRG) announced a $1 billion share repurchase agreement with Citibank. Intuitive Surgical, Inc. (NASDAQ:ISRG) will make an initial payment of $1 billion to Citi and receive nearly 3.6 million shares. The final settlement of the agreement is anticipated to occur in the last week of December. 

Truist analyst Richard Newitter on November 14 raised the price target on Intuitive Surgical, Inc. (NASDAQ:ISRG) to $300 from $260 and reaffirmed a Buy rating on the shares as part of a broader research note after his meetings with management teams at the MedTech San Francisco Bay Area bus tour. 

According to Insider Monkey’s data, 69 hedge funds were long Intuitive Surgical, Inc. (NASDAQ:ISRG) at the end of September 2022, compared to 56 funds in the prior quarter. Ken Fisher’s Fisher Asset Management held the leading position in the company, comprising 4.2 million shares worth $796 million. 

Polen Capital made the following comment about Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q3 2022 investor letter:

“Our sale of Intuitive Surgical, Inc. (NASDAQ:ISRG) reflected our concern that the company’s earnings growth over the next few years was likely to be somewhat lower than we would hope. Hospital and government capital budgets are coming under pressure from wage and supply chain inflation that they cannot readily pass on to patients and insurers. At the same time, the installed base of Da Vinci robots left to upgrade to new systems is low. If that slower growth view plays out, it would be difficult to get the double-digit annualized return we require, given the company’s higher valuation relative to most other companies in the Portfolio as of now.”

You can also take a look at 15 Most Volatile Stocks To Buy Now and 10 Best Robotics Stocks Under $10. 

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Disclosure: None. 13 Best Robotics Stocks To Buy Now is originally published on Insider Monkey.