ICU Medical (NASDAQ:ICUI) Sets New 12-Month High Following Strong Earnings

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

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

Analysts Set New Price Targets

ICUI has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research note on Wednesday. StockNews.com lowered ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James raised their price objective on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Jefferies Financial Group initiated coverage on ICU Medical in a research report on Monday, October 14th. They set a “hold” rating and a $183.00 price objective for the company. Finally, KeyCorp lifted their target price on ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ICU Medical currently has an average rating of “Moderate Buy” and an average target price of $173.00.

Insider Activity at ICU Medical

In related news, CEO Vivek Jain sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $156.04, for a total transaction of $1,872,480.00. Following the completion of the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $16,320,691.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ICU Medical news, CEO Vivek Jain sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $156.04, for a total value of $1,872,480.00. Following the completion of the transaction, the chief executive officer now directly owns 104,593 shares in the company, valued at $16,320,691.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel Woolson sold 2,502 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $163.22, for a total transaction of $408,376.44. Following the completion of the transaction, the vice president now owns 13,107 shares of the company’s stock, valued at approximately $2,139,324.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,502 shares of company stock worth $8,445,976. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On ICU Medical

Hedge funds have recently modified their holdings of the company. Motco purchased a new position in shares of ICU Medical in the first quarter worth $29,000. Innealta Capital LLC purchased a new position in shares of ICU Medical in the second quarter worth $32,000. Hexagon Capital Partners LLC lifted its holdings in shares of ICU Medical by 162.7% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 122 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of ICU Medical by 100.0% in the third quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in shares of ICU Medical by 731.5% in the first quarter. EntryPoint Capital LLC now owns 449 shares of the medical instruments supplier’s stock worth $48,000 after buying an additional 395 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors.

ICU Medical Price Performance

The firm’s fifty day moving average price is $176.11 and its 200 day moving average price is $141.98. The company has a quick ratio of 1.08, a current ratio of 2.41 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.27 billion, a PE ratio of -38.25 and a beta of 0.66.

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.