ICU Medical (NASDAQ:ICUI) Trading 8.4% Higher – Here’s Why

ICU Medical, Inc. (NASDAQ:ICUI) shares shot up 8.4% on Tuesday . The stock traded as high as $141.20 and last traded at $140.95. 215,777 shares were traded during mid-day trading, a decline of 5% from the average session volume of 226,741 shares. The stock had previously closed at $130.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ICUI. Jefferies Financial Group upgraded shares of ICU Medical from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Wednesday, December 11th. KeyCorp upped their price objective on ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James set a $97.00 target price on ICU Medical in a research note on Wednesday. StockNews.com lowered ICU Medical from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ICU Medical currently has an average rating of “Moderate Buy” and an average price target of $168.67.

ICU Medical Stock Down 1.0 %

The firm’s 50-day simple moving average is $157.96 and its 200 day simple moving average is $165.25. The company has a market cap of $3.44 billion, a P/E ratio of -30.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 2.29.

Insider Transactions at ICU Medical

In related news, CEO Vivek Jain sold 1,373 shares of ICU Medical stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $155.48, for a total transaction of $213,474.04. Following the transaction, the chief executive officer now owns 104,593 shares of the company’s stock, valued at $16,262,119.64. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On ICU Medical

Several institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd acquired a new stake in shares of ICU Medical during the fourth quarter worth $33,000. Quarry LP raised its stake in shares of ICU Medical by 764.3% in the 4th quarter. Quarry LP now owns 242 shares of the medical instruments supplier’s stock valued at $38,000 after purchasing an additional 214 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of ICU Medical by 1,510.0% in the third quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 302 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of ICU Medical in the fourth quarter valued at about $52,000. Finally, Point72 Hong Kong Ltd acquired a new position in ICU Medical during the 3rd quarter worth approximately $72,000. Institutional investors own 96.10% of the company’s stock.

About ICU Medical

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.