Truist Financial Corp Cuts Stock Holdings in ICU Medical, Inc. (NASDAQ:ICUI)

Truist Financial Corp decreased its stake in shares of ICU Medical, Inc. (NASDAQ:ICUI) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,639 shares of the medical instruments supplier’s stock after selling 196 shares during the period. Truist Financial Corp’s holdings in ICU Medical were worth $409,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ICUI. Amalgamated Bank boosted its position in shares of ICU Medical by 13.1% during the third quarter. Amalgamated Bank now owns 7,067 shares of the medical instruments supplier’s stock valued at $1,288,000 after buying an additional 816 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of ICU Medical by 24.6% during the third quarter. Principal Financial Group Inc. now owns 126,937 shares of the medical instruments supplier’s stock valued at $23,130,000 after buying an additional 25,031 shares during the last quarter. Equitable Trust Co. boosted its position in shares of ICU Medical by 2.2% during the third quarter. Equitable Trust Co. now owns 5,213 shares of the medical instruments supplier’s stock valued at $950,000 after buying an additional 112 shares during the last quarter. Atria Investments Inc purchased a new position in shares of ICU Medical during the third quarter valued at approximately $228,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of ICU Medical during the third quarter valued at approximately $313,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Insider Activity at ICU Medical

In related news, CEO Vivek Jain sold 1,373 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $155.48, for a total transaction of $213,474.04. Following the completion of the transaction, the chief executive officer now directly owns 104,593 shares in the company, valued at $16,262,119.64. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.70% of the stock is currently owned by corporate insiders.

ICU Medical Stock Performance

NASDAQ:ICUI opened at $140.95 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 2.29. ICU Medical, Inc. has a 52-week low of $93.36 and a 52-week high of $196.26. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -30.84 and a beta of 0.63. The business’s fifty day moving average is $160.16 and its 200 day moving average is $166.21.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Jefferies Financial Group raised ICU Medical from a “hold” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research note on Wednesday, November 13th. StockNews.com upgraded ICU Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, KeyCorp boosted their target price on ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.67.

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.