ICU Medical (NASDAQ:ICUI) Hits New 12-Month High After Strong Earnings

ICU Medical, Inc. (NASDAQ:ICUI) reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $196.26 and last traded at $179.32, with a volume of 189407 shares. The stock had previously closed at $178.01.

The medical instruments supplier reported $1.23 EPS for the quarter, topping the consensus estimate of $0.88 by $0.35. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.04%. The business had revenue of $580.07 million during the quarter, compared to analyst estimates of $574.77 million.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ICUI shares. Raymond James lifted their price target on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. StockNews.com downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of ICU Medical in a research note on Wednesday. Jefferies Financial Group began coverage on shares of ICU Medical in a research note on Monday, October 14th. They set a “hold” rating and a $183.00 target price for the company. Finally, KeyCorp upped their price target on shares of ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Buying and Selling at ICU Medical

In related news, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.84, for a total value of $2,062,080.00. Following the transaction, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $17,973,261.12. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Daniel Woolson sold 2,502 shares of ICU Medical stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $163.22, for a total value of $408,376.44. Following the completion of the transaction, the vice president now owns 13,107 shares in the company, valued at $2,139,324.54. The trade was a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,502 shares of company stock worth $6,573,496 over the last ninety days. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ICU Medical

A number of institutional investors have recently added to or reduced their stakes in ICUI. Motco bought a new position in ICU Medical in the first quarter worth $29,000. Innealta Capital LLC acquired a new position in ICU Medical during the 2nd quarter worth about $32,000. Hexagon Capital Partners LLC grew its stake in shares of ICU Medical by 162.7% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 122 shares during the last quarter. Allworth Financial LP boosted its position in ICU Medical by 100.0% in the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in ICU Medical by 731.5% in the first quarter. EntryPoint Capital LLC now owns 449 shares of the medical instruments supplier’s stock valued at $48,000 after acquiring an additional 395 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

ICU Medical Stock Performance

The firm’s 50-day moving average price is $176.32 and its 200 day moving average price is $142.19. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -37.63 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 2.41.

ICU Medical Company Profile

ICU Medical, Inc, together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy, vascular access, and vital care applications worldwide. Its infusion therapy products include needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoClave and ChemoLock closed system transfer devices, which are used to limit the escape of hazardous drugs or vapor concentrations, block the transfer of environmental contaminants into the system, and eliminates the risk of needlestick injury; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; and ClearGuard, SwabCap, and SwabTip disinfection caps.