Patton Fund Management Inc. Sells 3,727 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Patton Fund Management Inc. reduced its holdings in Intuitive Surgical, Inc. by 43.1% in Q2, selling 3,727 shares and retaining a total of 4,929 shares valued at $2,678,000.
• Several other large investors also increased their stakes in Intuitive Surgical during the first quarter, with notable increases by Chilton Capital Management LLC and TD Capital Management LLC.
• Intuitive Surgical reported a strong Q2, with earnings of $2.19 EPS and a revenue of $2.44 billion, exceeding analysts' estimates and showing a year-over-year revenue increase of 21.4%.

Patton Fund Management Inc. cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 43.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,929 shares of the medical equipment provider's stock after selling 3,727 shares during the period. Patton Fund Management Inc.'s holdings in Intuitive Surgical were worth $2,678,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Chilton Capital Management LLC boosted its holdings in Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Elite Financial Inc. bought a new stake in Intuitive Surgical in the first quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new position in Intuitive Surgical during the 1st quarter worth $30,000. Finally, TD Capital Management LLC lifted its position in Intuitive Surgical by 300.0% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 45 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares of the company's stock, valued at $504,898.14. This trade represents a 23.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $441.12 on Friday. The company has a 50-day simple moving average of $469.43 and a 200-day simple moving average of $501.46. The firm has a market capitalization of $158.13 billion, a P/E ratio of 61.52, a P/E/G ratio of 4.59 and a beta of 1.61. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and an average price target of $595.95.

About Intuitive Surgical

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.

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