Patriot Financial Group Insurance Agency LLC Has $2.69 Million Stake in Intuitive Surgical, Inc. $ISRG

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

A number of other institutional investors also recently modified their holdings of the stock. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical during the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. increased its position in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter worth approximately $28,000. Caitlin John LLC bought a new stake in Intuitive Surgical in the 3rd quarter valued at about $30,000. Finally, Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $404.70 on Monday. The stock has a 50 day simple moving average of $432.67 and a two-hundred day simple moving average of $484.03. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88. The stock has a market cap of $143.33 billion, a P/E ratio of 49.05, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share. Sell-side analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ISRG. Bank of America lowered their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Robert W. Baird lifted their price target on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. HSBC lowered their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $574.00 target price on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Nineteen investment 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. Based on data from MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $573.42.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director owned 120 shares in the company, valued at approximately $55,620. This represents a 49.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Intuitive Surgical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

About Intuitive Surgical

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.