5 S&P 500 Stocks On the Move

In this article, we discuss the 5 S&P 500 stocks on the move. If you want to read our detailed analysis of these stocks, go directly to 12 S&P 500 Stocks On the Move. 

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

Number of Hedge Fund Holders: 78   

Return Over Past Month as of January 18: 12.7% 

Intuitive Surgical, Inc. (NASDAQ:ISRG) develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care. Intuitive Surgical, Inc. (NASDAQ:ISRG) shares have rallied in the past few weeks after the firm released preliminary revenue figures for the fourth quarter of 2023 that were above consensus estimates. The firm expects Q4 revenue rising 17% year-on-year to around $1.93 billion, compared to consensus estimates of $1.88 billion. The firm said the increase was driven by strong demand for procedures using the flagship da Vinci robotic surgical systems marketed by the firm. Higher pricing for instruments and accessories also helped beat revenue estimates. 

At the end of the third quarter of 2023, 78 hedge funds in the database of Insider Monkey held stakes worth $5 billion in Intuitive Surgical, Inc. (NASDAQ:ISRG), compared to 68 in the preceding quarter worth $3.4 billion. 

In its Q3 2023 investor letter, ClariVest Asset Management, an asset management firm, highlighted a few stocks and Intuitive Surgical, Inc. (NASDAQ:ISRG) was one of them. Here is what the fund said:

“Intuitive Surgical, Inc. (NASDAQ:ISRG) provides robotic-assisted surgical solutions and invasive care through a comprehensive ecosystem of products and services. Management expects the backlog of deferred surgical procedures to take several quarters to recover, with bariatric surgery growth potentially slowing down with the increasing use of weight loss drugs.”