ICU Medical, Inc. (NASDAQ:ICUI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
A number of other equities analysts have also recently commented on the stock. BidaskClub raised shares of ICU Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Roth Capital cut shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Thursday, May 11th. They noted that the move was a valuation call. Finally, Sidoti cut shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $157.00.
ICU Medical (NASDAQ ICUI) opened at 173.25 on Friday. The company’s 50-day moving average is $166.30 and its 200 day moving average is $152.58. ICU Medical has a 1-year low of $108.51 and a 1-year high of $176.50. The firm has a market capitalization of $3.43 billion, a PE ratio of 30.79 and a beta of 0.37.
ICU Medical (NASDAQ:ICUI) last released its earnings results on Wednesday, May 10th. The medical instruments supplier reported $1.68 earnings per share for the quarter, beating the consensus estimate of $0.45 by $1.23. ICU Medical had a net margin of 18.76% and a return on equity of 9.63%. The business had revenue of $247.74 million during the quarter, compared to analysts’ expectations of $237.12 million. During the same period last year, the business earned $1.26 earnings per share. The firm’s revenue was up 175.7% on a year-over-year basis. On average, equities analysts expect that ICU Medical will post $4.14 EPS for the current fiscal year.
In other ICU Medical news, VP Alison D. Burcar sold 18,290 shares of ICU Medical stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $160.72, for a total transaction of $2,939,568.80. Following the completion of the transaction, the vice president now directly owns 3,727 shares of the company’s stock, valued at $599,003.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vivek Jain sold 69,014 shares of ICU Medical stock in a transaction on Friday, July 7th. The stock was sold at an average price of $171.10, for a total transaction of $11,808,295.40. Following the transaction, the chief executive officer now directly owns 110,925 shares of the company’s stock, valued at $18,979,267.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,872 shares of company stock valued at $37,839,895. Company insiders own 15.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in 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 worth $270,268,000 after buying an additional 1,767,900 shares during the period. Janus Capital Management LLC boosted its stake 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 worth $219,864,000 after buying an additional 923,395 shares during the last quarter. Redmile Group LLC acquired a new stake in shares of ICU Medical during the first quarter worth about $24,515,000. Norges Bank acquired a new stake in shares of ICU Medical during the fourth quarter worth about $18,127,000. Finally, Wells Fargo & Company MN boosted its stake in shares of ICU Medical by 29.3% in the first quarter. Wells Fargo & Company MN now owns 465,840 shares of the medical instruments supplier’s stock worth $71,133,000 after buying an additional 105,570 shares during the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.
About ICU Medical
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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