Patton Fund Management Inc. Has $2.68 Million Stock Holdings in Intuitive Surgical, Inc. $ISRG

Patton Fund Management Inc. lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 43.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,929 shares of the medical equipment provider’s stock after selling 3,727 shares during the quarter. Patton Fund Management Inc.’s holdings in Intuitive Surgical were worth $2,678,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after buying an additional 731 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Intuitive Surgical by 27.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,256 shares of the medical equipment provider’s stock worth $622,000 after buying an additional 268 shares during the last quarter. Versant Capital Management Inc grew its stake in Intuitive Surgical by 73.3% during the first quarter. Versant Capital Management Inc now owns 1,192 shares of the medical equipment provider’s stock worth $590,000 after buying an additional 504 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Intuitive Surgical by 3.2% during the first quarter. Central Pacific Bank Trust Division now owns 6,698 shares of the medical equipment provider’s stock worth $3,317,000 after buying an additional 207 shares during the last quarter. Finally, Quent Capital LLC grew its stake in Intuitive Surgical by 2.2% during the first quarter. Quent Capital LLC now owns 1,354 shares of the medical equipment provider’s stock worth $671,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares of the company’s stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on ISRG shares. BTIG Research upped their price objective on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company increased their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Erste Group Bank reissued a “hold” rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $595.95.

Intuitive Surgical Price Performance

ISRG opened at $441.12 on Friday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company’s 50 day simple moving average is $469.43 and its 200-day simple moving average is $501.46. The stock has a market capitalization of $158.13 billion, a P/E ratio of 61.52, a price-to-earnings-growth ratio of 4.59 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Intuitive Surgical’s revenue was up 21.4% compared to the same quarter last year. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.