ICU Medical, Inc. (ICUI) Rating Increased to Hold at Zacks Investment Research

ICU Medical, Inc. (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “ICU Medical, Inc., together with its wholly-owned subsidiary Budget Medical Products, Inc. is a leader in the development, manufacture and sale of proprietary, disposable medical connection systems for use in intravenous therapy applications. The company’s intravenous connectors are designed to prevent accidental disconnection’s of intravenous lines and to protect healthcare workers and their patients from the spread of infectious diseases such as Hepatitis B and Human Immunodeficiency Virus by significantly reducing the risk of accidental needlesticks. “

ICUI has been the subject of several other reports. BidaskClub raised ICU Medical from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Gabelli reissued a “buy” rating on shares of ICU Medical in a research report on Friday, August 11th. Finally, Sidoti cut ICU Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $193.00.

Shares of ICU Medical (NASDAQ ICUI) opened at 180.10 on Monday. ICU Medical has a 12-month low of $120.14 and a 12-month high of $180.45. The company has a 50-day moving average price of $171.63 and a 200 day moving average price of $163.11. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 72.13 and a beta of 0.36.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.52 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.06). ICU Medical had a net margin of 6.10% and a return on equity of 7.56%. The company had revenue of $331.51 million for the quarter, compared to analyst estimates of $318.30 million. During the same period last year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was up 242.8% on a year-over-year basis. Equities research analysts expect that ICU Medical will post $4.11 earnings per share for the current fiscal year.

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In other news, VP Virginia Ruth Sanzone sold 1,784 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $174.47, for a total value of $311,254.48. Following the completion of the sale, the vice president now directly owns 102 shares of the company’s stock, valued at $17,795.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Vivek Jain sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $170.80, for a total value of $17,080,000.00. Following the completion of the sale, the chairman now directly owns 110,925 shares of the company’s stock, valued at $18,945,990. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,549 shares of company stock valued at $36,354,740. Insiders own 15.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICUI. BlackRock Inc. lifted its position in shares of ICU Medical by 87,088.7% in the first quarter. BlackRock Inc. now owns 1,769,930 shares of the medical instruments supplier’s stock valued at $270,268,000 after buying an additional 1,767,900 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of ICU Medical in the second quarter valued at approximately $247,072,000. Janus Capital Management LLC lifted its position in shares of ICU Medical by 178.8% in the first quarter. Janus Capital Management LLC now owns 1,439,864 shares of the medical instruments supplier’s stock valued at $219,864,000 after buying an additional 923,395 shares during the last quarter. Fiera Capital Corp acquired a new stake in shares of ICU Medical in the second quarter valued at approximately $36,962,000. Finally, Vanguard Group Inc. lifted its position in shares of ICU Medical by 16.3% in the second quarter. Vanguard Group Inc. now owns 1,304,282 shares of the medical instruments supplier’s stock valued at $224,989,000 after buying an additional 183,133 shares during the last quarter. 78.13% of the stock is owned by institutional investors.

ICU Medical Company Profile

ICU Medical, Inc is engaged in the development, manufacture and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, custom infusion sets, closed system transfer devices (CSTD) for the handling of hazardous drugs, advanced sensor catheters, needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.

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