Zacks Investment Research Upgrades ICU Medical, Inc. (NASDAQ:ICUI) to “Strong-Buy”

Zacks Investment Research upgraded shares of ICU Medical, Inc. (NASDAQ:ICUI) from a hold rating to a strong-buy rating in a report released on Wednesday. Zacks Investment Research currently has $195.00 price target on the medical instruments supplier’s stock.

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. “

Other analysts have also issued reports about the stock. BidaskClub upgraded shares of ICU Medical from a hold rating to a buy rating in a research report on Saturday, June 17th. Sidoti lowered shares of ICU Medical from a buy rating to a neutral rating in a research report on Tuesday, June 20th. Finally, Roth Capital lowered 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. Five research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average price target of $157.00.

ICU Medical (NASDAQ:ICUI) opened at 173.25 on Wednesday. The company has a market capitalization of $3.43 billion, a P/E ratio of 30.79 and a beta of 0.37. ICU Medical has a 12-month low of $108.51 and a 12-month high of $176.50. The company has a 50-day moving average of $166.30 and a 200 day moving average of $152.58.

ICU Medical (NASDAQ:ICUI) last announced its earnings results on Wednesday, May 10th. The medical instruments supplier reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $1.23. The company had revenue of $247.74 million during the quarter, compared to analyst estimates of $237.12 million. ICU Medical had a net margin of 18.76% and a return on equity of 9.63%. The firm’s quarterly revenue was up 175.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 earnings per share. Equities research analysts forecast that ICU Medical will post $4.14 earnings per share for the current fiscal year.

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In other ICU Medical news, Chairman Vivek Jain sold 100,000 shares of the company’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 transaction, the chairman now directly owns 110,925 shares in the company, valued at $18,945,990. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott E. Lamb sold 23,772 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $170.02, for a total transaction of $4,041,715.44. Following the completion of the transaction, the chief financial officer now owns 9,050 shares of the company’s stock, valued at $1,538,681. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,872 shares of company stock valued at $37,839,895. Company insiders own 15.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in ICU Medical by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 1,607 shares of the medical instruments supplier’s stock worth $245,000 after buying an additional 7 shares during the last quarter. Texas Permanent School Fund increased its position in ICU Medical by 0.3% in the first quarter. Texas Permanent School Fund now owns 10,747 shares of the medical instruments supplier’s stock valued at $1,641,000 after buying an additional 28 shares during the period. Flinton Capital Management LLC increased its position in ICU Medical by 1.4% in the first quarter. Flinton Capital Management LLC now owns 2,288 shares of the medical instruments supplier’s stock valued at $349,000 after buying an additional 32 shares during the period. State of Alaska Department of Revenue increased its position in ICU Medical by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 1,640 shares of the medical instruments supplier’s stock valued at $250,000 after buying an additional 40 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in ICU Medical by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,360 shares of the medical instruments supplier’s stock valued at $513,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

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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