Patton Fund Management Inc. Has $228,000 Position in Intuitive Surgical, Inc. $ISRG

Patton Fund Management Inc. trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 89.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510 shares of the medical equipment provider’s stock after selling 4,419 shares during the quarter. Patton Fund Management Inc.’s holdings in Intuitive Surgical were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ISRG. Aaron Wealth Advisors LLC lifted its stake in shares of Intuitive Surgical by 0.8% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider’s stock valued at $1,374,000 after acquiring an additional 19 shares during the last quarter. Evergreen Capital Management LLC raised its position in Intuitive Surgical by 0.5% in the first quarter. Evergreen Capital Management LLC now owns 4,288 shares of the medical equipment provider’s stock valued at $2,124,000 after purchasing an additional 20 shares during the last quarter. Rise Advisors LLC boosted its stake in shares of Intuitive Surgical by 5.6% during the first quarter. Rise Advisors LLC now owns 378 shares of the medical equipment provider’s stock valued at $187,000 after purchasing an additional 20 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Intuitive Surgical by 4.1% during the second quarter. Pinnacle Bancorp Inc. now owns 532 shares of the medical equipment provider’s stock worth $289,000 after purchasing an additional 21 shares during the last quarter. Finally, Vertex Planning Partners LLC increased its stake in shares of Intuitive Surgical by 2.3% in the second quarter. Vertex Planning Partners LLC now owns 917 shares of the medical equipment provider’s stock valued at $498,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ISRG. Evercore ISI lifted their target price on shares of Intuitive Surgical from $450.00 to $540.00 in a research report on Wednesday, October 22nd. Royal Bank Of Canada boosted their price objective on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Piper Sandler raised their target price on Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. HSBC upped their price target on Intuitive Surgical from $595.00 to $644.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Rothschild & Co Redburn raised their price objective on Intuitive Surgical from $610.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.08.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 28,800 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $547.56, for a total value of $15,769,728.00. Following the completion of the sale, the insider directly owned 27,027 shares in the company, valued at approximately $14,798,904.12. This trade represents a 51.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Henry L. Charlton sold 13,731 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the transaction, the executive vice president owned 3,056 shares in the company, valued at $1,772,480. This represents a 81.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 114,007 shares of company stock valued at $63,533,844 over the last 90 days. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $577.34 on Wednesday. The stock’s 50-day moving average is $547.18 and its 200 day moving average is $505.91. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The firm has a market cap of $206.96 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 5.33 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.41. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 earnings per share. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Intuitive Surgical Company 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.