ICU Medical (ICUI) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS

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ICU Medical (NASDAQ:ICUI) released its earnings results on Thursday. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.34, Briefing.com reports. ICU Medical had a net margin of 5.93% and a return on equity of 12.78%. The firm had revenue of $327.20 million during the quarter, compared to analyst estimates of $334.97 million. During the same period last year, the business earned $1.12 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. ICU Medical updated its FY 2018 guidance to $8.45-8.85 EPS and its FY18 guidance to $8.45-8.85 EPS.

NASDAQ ICUI traded down $28.23 during mid-day trading on Friday, reaching $232.01. The stock had a trading volume of 689,193 shares, compared to its average volume of 181,891. ICU Medical has a 1 year low of $196.33 and a 1 year high of $321.70. The firm has a market cap of $5.31 billion, a P/E ratio of 35.99 and a beta of 0.65.

In other ICU Medical news, VP Virginia Ruth Sanzone sold 787 shares of ICU Medical stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $303.12, for a total value of $238,555.44. Following the completion of the sale, the vice president now owns 1,367 shares of the company’s stock, valued at approximately $414,365.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Pfizer Inc sold 700,000 shares of ICU Medical stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $284.35, for a total transaction of $199,045,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 711,920 shares of company stock valued at $202,651,956. 12.50% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ICU Medical in the 2nd quarter worth approximately $235,000. Legal & General Group Plc grew its position in ICU Medical by 18.1% in the 2nd quarter. Legal & General Group Plc now owns 17,686 shares of the medical instruments supplier’s stock worth $5,193,000 after purchasing an additional 2,706 shares during the period. Smith Asset Management Group LP grew its position in ICU Medical by 1,207.6% in the 2nd quarter. Smith Asset Management Group LP now owns 38,745 shares of the medical instruments supplier’s stock worth $11,377,000 after purchasing an additional 35,782 shares during the period. Baird Financial Group Inc. grew its position in ICU Medical by 0.5% in the 2nd quarter. Baird Financial Group Inc. now owns 49,781 shares of the medical instruments supplier’s stock worth $14,618,000 after purchasing an additional 245 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in ICU Medical in the 2nd quarter worth approximately $5,849,000. 73.51% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on ICUI shares. TheStreet upgraded shares of ICU Medical from a “c+” rating to a “b+” rating in a report on Monday, August 20th. Zacks Investment Research upgraded shares of ICU Medical from a “hold” rating to a “strong-buy” rating and set a $337.00 price objective for the company in a report on Wednesday, August 15th. ValuEngine lowered shares of ICU Medical from a “strong-buy” rating to a “buy” rating in a report on Friday, August 3rd. Finally, BidaskClub upgraded shares of ICU Medical from a “hold” rating to a “buy” rating in a report on Friday, September 28th.

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ICU Medical Company Profile

ICU Medical, Inc develops, manufactures, and sells medical devices used in vascular therapy, critical care, and oncology applications worldwide. It offers infusion therapy products comprising a tube running from a bottle or plastic bag containing a solution to a catheter inserted in a patient's vein.

See Also: Dollar Cost Averaging

Earnings History for ICU Medical (NASDAQ:ICUI)

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