ICU Medical (NASDAQ:ICUI) Reaches New 1-Year High After Earnings Beat

Shares of ICU Medical, Inc. (NASDAQ:ICUI) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock 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, beating analysts’ consensus estimates of $0.88 by $0.35. ICU Medical had a positive return on equity of 5.01% and a negative net margin of 3.07%. The company had revenue of $580.07 million for the quarter, compared to the consensus estimate of $574.77 million.

Analyst Ratings Changes

ICUI has been the topic of a number of research analyst reports. KeyCorp boosted their price target on ICU Medical from $147.00 to $198.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on ICU Medical in a research report on Monday, October 14th. They set a “hold” rating and a $183.00 price objective on the stock. Raymond James lifted 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. Needham & Company LLC reaffirmed a “hold” rating on shares of ICU Medical in a research report on Wednesday. Finally, StockNews.com cut ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ICU Medical has a consensus rating of “Moderate Buy” and an average price target of $170.25.

Insider Transactions at ICU Medical

In other news, VP Daniel Woolson sold 2,502 shares of the business’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 value of $408,376.44. Following the sale, the vice president now directly owns 13,107 shares of the company’s stock, valued at $2,139,324.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Vivek Jain sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $17,973,261.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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 directly owns 13,107 shares in the company, valued at $2,139,324.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,502 shares of company stock valued at $8,445,976 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ICU Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted 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 acquiring an additional 100 shares in the last quarter. Xponance Inc. raised its stake in ICU Medical by 6.0% during the 2nd quarter. Xponance Inc. now owns 1,977 shares of the medical instruments supplier’s stock valued at $235,000 after buying an additional 112 shares during the last quarter. Equitable Trust Co. raised its stake in ICU Medical by 2.2% during the 3rd 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. CWM LLC raised its stake in ICU Medical by 18.5% during the 2nd quarter. CWM LLC now owns 767 shares of the medical instruments supplier’s stock valued at $91,000 after buying an additional 120 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in ICU Medical by 162.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 122 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

ICU Medical Stock Performance

The firm has a market capitalization of $4.40 billion, a PE ratio of -63.55 and a beta of 0.66. The company has a current ratio of 2.41, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $175.85 and its two-hundred day simple moving average is $141.75.

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.