Patton Fund Management Inc. Invests $4.29 Million in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Patton Fund Management Inc. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,656 shares of the medical equipment provider's stock, valued at approximately $4,287,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in shares of Intuitive Surgical by 0.9% during the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 34,841 shares of the medical equipment provider's stock worth $17,256,000 after buying an additional 300 shares in the last quarter. Vivid Wealth Management LLC raised its holdings in Intuitive Surgical by 1.0% in the 1st quarter. Vivid Wealth Management LLC now owns 4,929 shares of the medical equipment provider's stock valued at $2,441,000 after acquiring an additional 50 shares during the last quarter. WD Rutherford LLC raised its holdings in Intuitive Surgical by 0.8% in the 1st quarter. WD Rutherford LLC now owns 8,380 shares of the medical equipment provider's stock valued at $4,092,000 after acquiring an additional 70 shares during the last quarter. Grove Bank & Trust lifted its stake in Intuitive Surgical by 85.1% in the 1st quarter. Grove Bank & Trust now owns 1,270 shares of the medical equipment provider's stock worth $629,000 after purchasing an additional 584 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Intuitive Surgical by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 75,076 shares of the medical equipment provider's stock worth $37,183,000 after purchasing an additional 2,234 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 0.5%

ISRG traded down $2.62 during trading hours on Wednesday, hitting $509.49. 1,173,748 shares of the company's stock were exchanged, compared to its average volume of 1,675,864. The firm has a market cap of $182.61 billion, a P/E ratio of 74.71, a price-to-earnings-growth ratio of 5.43 and a beta of 1.67. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00. The firm has a 50 day moving average of $527.58 and a 200 day moving average of $538.12.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. During the same quarter in the prior year, the company earned $1.50 earnings per share. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gary Loeb sold 1,700 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $513.18, for a total value of $872,406.00. Following the transaction, the executive vice president now owns 2,245 shares of the company's stock, valued at $1,152,089.10. This represents a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president now owns 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock valued at $2,611,577 in the last three months. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ISRG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Piper Sandler reduced their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Truist Financial lowered their price target on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Robert W. Baird decreased their target price on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $588.95.

Intuitive Surgical 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.