Patron Partners LLC Boosts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Patron Partners LLC grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,108 shares of the medical equipment provider’s stock after purchasing an additional 218 shares during the period. Patron Partners LLC’s holdings in Intuitive Surgical were worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ISRG. Atala Financial Inc purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $25,000. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $26,000. Global Financial Private Client LLC raised its stake in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Hurley Capital LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Activity

In related news, EVP Gary Loeb sold 1,700 shares of Intuitive Surgical stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the sale, the executive vice president now directly owns 2,245 shares in the company, valued at $1,152,089.10. The trade was a 43.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jami K. Nachtsheim sold 2,400 shares of Intuitive Surgical stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $533.71 on Friday. Intuitive Surgical, Inc. has a 1 year low of $413.82 and a 1 year high of $616.00. The company has a market cap of $191.29 billion, a price-to-earnings ratio of 78.26, a price-to-earnings-growth ratio of 5.67 and a beta of 1.67. The firm has a fifty day moving average of $532.08 and a 200-day moving average of $536.80.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. Analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ISRG shares. Royal Bank Of Canada decreased their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Citigroup reissued a “buy” rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Barclays decreased their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Evercore ISI decreased their price target on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler decreased their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $588.95.

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.