ICU Medical (NASDAQ:ICUI) Raised to “Buy” at BidaskClub

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BidaskClub upgraded shares of ICU Medical (NASDAQ:ICUI) from a hold rating to a buy rating in a report issued on Friday, BidAskClub reports.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded ICU Medical from a buy rating to a hold rating in a report on Thursday, July 25th. TheStreet upgraded ICU Medical from a c+ rating to a b rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ICU Medical currently has an average rating of Buy and an average target price of $290.50.

Shares of ICU Medical stock opened at $247.46 on Friday. The stock’s fifty day moving average is $250.17. ICU Medical has a 12-month low of $210.94 and a 12-month high of $321.70. The company has a market capitalization of $5.28 billion, a P/E ratio of 32.10 and a beta of 0.81.

ICU Medical (NASDAQ:ICUI) last announced its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $2.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.39. ICU Medical had a return on equity of 13.70% and a net margin of 4.04%. The business had revenue of $330.93 million during the quarter, compared to the consensus estimate of $318.97 million. During the same quarter in the prior year, the company posted $2.26 earnings per share. ICU Medical’s revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts expect that ICU Medical will post 8.55 EPS for the current fiscal year.

In other ICU Medical news, CFO Scott E. Lamb sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. Following the completion of the transaction, the chief financial officer now owns 34,984 shares in the company, valued at approximately $8,746,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Swinney sold 239 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $248.73, for a total value of $59,446.47. Following the completion of the transaction, the director now owns 19,662 shares of the company’s stock, valued at approximately $4,890,529.26. The disclosure for this sale can be found here. Insiders sold a total of 37,931 shares of company stock valued at $9,228,056 in the last 90 days. Corporate insiders own 11.40% of the company’s stock.

Large investors have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan lifted its position in shares of ICU Medical by 1.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,070 shares of the medical instruments supplier’s stock valued at $773,000 after buying an additional 40 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of ICU Medical by 70.2% during the 2nd quarter. Advisory Services Network LLC now owns 143 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 59 shares during the last quarter. Huntington National Bank lifted its position in shares of ICU Medical by 15.3% during the 2nd quarter. Huntington National Bank now owns 474 shares of the medical instruments supplier’s stock valued at $119,000 after buying an additional 63 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ICU Medical by 6.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,118 shares of the medical instruments supplier’s stock valued at $268,000 after buying an additional 68 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of ICU Medical by 1.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,646 shares of the medical instruments supplier’s stock valued at $1,591,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.

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