Wedbush Securities Increases Stake in Intuitive Surgical by 1.1%

Wedbush Securities Inc. has increased its stake in Intuitive Surgical, Inc. (NASDAQ: ISRG) by 1.1% during the second quarter of 2023, according to data from Holdings Channel. The institutional investor now holds 13,647 shares of the medical equipment provider, following the acquisition of an additional 148 shares during this period. As of the latest reporting, Wedbush’s holdings in Intuitive Surgical are valued at approximately $7.4 million.

A number of other institutional investors have also made adjustments to their positions in Intuitive Surgical. For instance, TD Capital Management LLC significantly increased its holdings by 300% in the first quarter, now owning 60 shares valued at around $30,000. Other notable transactions include 1248 Management LLC, which purchased a new stake worth $30,000, and Bank of Jackson Hole Trust, which raised its holdings by 70.5%, now owning 75 shares valued at $37,000. Overall, institutional investors own approximately 83.64% of Intuitive Surgical’s stock.

In terms of insider trading, Executive Vice President Myriam Curet sold 125 shares on October 29, 2023, at an average price of $543.00, totaling $67,875.00. Additionally, CEO David J. Rosa sold 24,500 shares on October 24, 2023, at an average price of $547.55, resulting in a total transaction of $13.4 million. Following this sale, Rosa retains 234,256 shares valued at approximately $128.3 million, marking a 9.47% reduction in his holdings.

Intuitive Surgical recently released its quarterly earnings report on October 21, 2023. The company reported earnings per share of $2.40, surpassing the consensus estimate of $1.99 by $0.41. The firm achieved a return on equity of 15.08% and a net margin of 28.58%. Revenue for the quarter reached $2.51 billion, exceeding analyst expectations of $2.41 billion and representing a 22.9% increase compared to the same period last year.

Analysts have been actively assessing Intuitive Surgical’s performance, with Weiss Ratings maintaining a “hold (c)” rating as of October 31, 2023. Truist Financial set a price target of $620.00 with a “buy” rating, while Evercore ISI raised its target from $450.00 to $540.00. Argus has also increased its price target from $600.00 to $630.00. Currently, the consensus rating for Intuitive Surgical among analysts is “Moderate Buy,” with a target price of $608.92.

Founded in 1995, Intuitive Surgical, Inc. specializes in developing and marketing products that enhance minimally invasive surgical procedures. Its flagship product, the da Vinci Surgical System, allows for complex surgeries through a minimally invasive approach. Additionally, the company offers the Ion endoluminal system, which expands its capabilities into diagnostic procedures, enabling minimally invasive lung biopsies.

For more detailed information on Intuitive Surgical and recent activities, interested parties can visit HoldingsChannel.com to review the latest 13F filings and insider trades.