Viking Global Increases Intuitive Surgical (ISRG) Position ~ market folly

Wednesday, May 22, 2013

Viking Global Increases Intuitive Surgical (ISRG) Position

Andreas Halvorsen's hedge fund firm Viking Global Investors has filed a 13G with the SEC regarding shares of Intuitive Surgical (ISRG).  Per the filing, Viking has disclosed a 5.1% ownership stake in ISRG with 2,029,353 shares.

This marks around a 10% increase in the amount of shares they own since the end of the first quarter in March.  This filing was required due to portfolio activity on May 10th.

Viking over doubled its stake in ISRG during the first quarter and it's now one of their largest holdings.  Shares have fallen from $580 down to as low as $455 and currently trade around $485.  As such, ISRG shares are likely trading at or even below levels where the hedge fund was buying.

To see what other US stocks Viking Global has invested in, check out the brand new issue of our Hedge Fund Wisdom newsletter that was just released yesterday.

Per Google Finance, Intuitive Surgical is "designs, manufactures and markets da Vinci Surgical Systems and related instruments and accessories. A da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a high performance vision system. The da Vinci Surgical System translates a surgeon’s natural hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions, or ports. The da Vinci Surgical System is designed to provide its operating surgeon with intuitive control, range of motion, fine tissue manipulation capability and three dimensional (3-D), high-definition (HD) vision while simultaneously allowing the surgeon to work through the small ports of MIS."

For more resources on this fund, we've also posted up a rare interview with Andreas Halvorsen.

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