ICU Medical Inc. (ICUI) Downgraded by Zacks Investment Research
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. “
Separately, Piper Jaffray Cos. reiterated a neutral rating and issued a $119.00 price objective (up from $115.00) on shares of ICU Medical in a research note on Thursday, August 11th.
ICU Medical (NASDAQ:ICUI) opened at 126.34 on Tuesday. The stock has a 50 day moving average price of $123.86 and a 200 day moving average price of $109.75. ICU Medical has a one year low of $85.56 and a one year high of $128.93. The firm has a market cap of $2.04 billion, a PE ratio of 37.62 and a beta of 0.49.
ICU Medical (NASDAQ:ICUI) last announced its quarterly earnings data on Monday, August 8th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $89.66 million. ICU Medical had a return on equity of 10.33% and a net margin of 14.94%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. Equities research analysts expect that ICU Medical will post $4.54 EPS for the current year.
In related news, VP Thomas D. Mccall sold 2,071 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $126.07, for a total value of $261,090.97. Following the transaction, the vice president now owns 2,129 shares of the company’s stock, valued at $268,403.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Steven Riggs sold 20,000 shares of the stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the vice president now directly owns 21,378 shares in the company, valued at approximately $2,351,580. The disclosure for this sale can be found here. 15.90% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC raised its position in ICU Medical by 14.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 512,923 shares of the company’s stock valued at $53,396,000 after buying an additional 65,978 shares during the period. Eqis Capital Management Inc. raised its position in shares of ICU Medical by 0.7% in the second quarter. Eqis Capital Management Inc. now owns 2,509 shares of the company’s stock valued at $283,000 after buying an additional 18 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of ICU Medical by 527.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 37,270 shares of the company’s stock valued at $3,880,000 after buying an additional 31,330 shares during the last quarter. Hancock Holding Co. raised its position in shares of ICU Medical by 20.4% in the first quarter. Hancock Holding Co. now owns 8,550 shares of the company’s stock valued at $890,000 after buying an additional 1,450 shares during the last quarter. Finally, Bayesian Capital Management LP raised its position in shares of ICU Medical by 0.3% in the first quarter. Bayesian Capital Management LP now owns 2,150 shares of the company’s stock valued at $224,000 after buying an additional 7 shares during the last quarter. 89.50% of the stock is currently owned by hedge funds and other institutional investors.
About ICU Medical
ICU Medical, Inc is engaged in the development, manufacturing and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, closed system transfer devices (CSTD), needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.
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