Patriot Financial Group Insurance Agency LLC Grows Stock Holdings in Intuitive Surgical, Inc. $ISRG

Patriot Financial Group Insurance Agency LLC lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 105.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,842 shares of the medical equipment provider’s stock after purchasing an additional 2,999 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Intuitive Surgical were worth $2,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ISRG. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical during the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. boosted its holdings in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of Intuitive Surgical in the fourth quarter worth $28,000. Caitlin John LLC purchased a new stake in shares of Intuitive Surgical in the third quarter worth $30,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Intuitive Surgical in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the transaction, the director owned 239 shares of the company’s stock, valued at approximately $113,156.94. This represents a 67.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,169 shares of company stock worth $3,059,135 in the last ninety days. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Bank of America cut their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Piper Sandler restated an “overweight” rating and set a $580.00 price objective on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. Finally, TD Cowen decreased their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.42.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $404.70 on Monday. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88. The firm’s 50 day moving average is $432.67 and its 200 day moving average is $484.03. The stock has a market capitalization of $143.33 billion, a P/E ratio of 49.05, a P/E/G ratio of 3.29 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.