5 Best Automation Stocks For 2021

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

Number of Hedge Fund Holders: 49
Market Cap: $102.257 billion

Intuitive Surgical has become a global technology leader in robotic-assisted and minimally invasive surgery. The company designs, develops, and manufactures da Vinci surgical instruments and related accessories that are distributed in the US and across 67 countries. According to the company’s website, its surgical system was used for over 8.5 million surgical procedures in 2020. On a quarterly basis, year-over-year, procedures grew 10% in Q1 2020, decreased 19% in Q2 2020, grew 7% in Q3 2020, and grew 6% in Q4 2020. The company also launched its first venture capital fund valued at $100 million to invest in companies that share Intuitive’s vision in advancing healthcare outcomes. In February 2020, Intuitive Surgical announced its acquisition of privately held Orpheus Medical. Its stock leads its peers in terms of market value and average daily trading volume and is one of the best automation stocks for 2021. As of the Dec. 23 close of 2020, ISRG stock had risen more than 29% year to date. The company’s revenue increased to $3.4 billion in 2020, compared to $3.2 billion in 2019. By the end of 2020, ISRG had $6.87 billion in cash and cash equivalents, as stated in the company’s annual report.

As of the end of the fourth quarter, there were 49 hedge funds in Insider Monkey’s database that held stakes in Intuitive Surgical, compared to 50 funds in the third quarter. McKinley Capital Management, with 6,504 shares of ISRG, is the biggest stakeholder in the company.

Ensemble Capital, in their Q1 2021 investor letter, mentioned Intuitive Surgical, Inc. (NASDAQ: ISRG). Here is what Ensemble Capital has to say about Intuitive Surgical, Inc. in their Q1 2021 investor letter:

“Notable detractors to the Fund’s returns this quarter (included) Intuitive Surgical. Intuitive Surgical’s (6.3% weight in the Fund) growth slowed in 2020 as COVID hit the brakes on many elective surgeries. Given continued COVID-related risks in the US and Europe in 2021, it’s still unclear as to when elective surgeries recover to more normal levels. As such, hospitals may be holding off on planned surgical robot investments until demand rebounds. That said, in Asia, where COVID has been well contained, Intuitive Surgical’s procedures and systems utilizations improved, which bodes well for recovery in the US and EU. Most procedures can’t be delayed indefinitely or canceled, so we continue to expect a resumption of strong, durable growth as the pandemic recedes.”