Bessemer Group Inc. Holds Position in ICU Medical, Inc. (NASDAQ:ICUI)
Bessemer Group Inc. held its stake in shares of ICU Medical, Inc. (NASDAQ:ICUI) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,300 shares of the medical instruments supplier’s stock at the end of the second quarter. Bessemer Group Inc.’s holdings in ICU Medical were worth $2,812,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ICUI. Creative Planning increased its stake in shares of ICU Medical by 315.6% in the first quarter. Creative Planning now owns 665 shares of the medical instruments supplier’s stock worth $102,000 after buying an additional 505 shares during the period. Ameritas Investment Partners Inc. bought a new position in ICU Medical during the first quarter worth about $194,000. Parametrica Management Ltd bought a new position in ICU Medical during the second quarter worth about $213,000. Sawgrass Asset Management LLC bought a new position in ICU Medical during the first quarter worth about $229,000. Finally, Quantitative Systematic Strategies LLC bought a new position in ICU Medical during the second quarter worth about $233,000. Institutional investors and hedge funds own 77.85% of the company’s stock.
ICU Medical, Inc. (NASDAQ ICUI) opened at 171.55 on Wednesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 30.49 and a beta of 0.37. ICU Medical, Inc. has a 12 month low of $116.22 and a 12 month high of $176.50. The firm’s 50-day moving average price is $172.15 and its 200-day moving average price is $157.46.
ICU Medical (NASDAQ:ICUI) last issued its earnings results on Wednesday, May 10th. The medical instruments supplier reported $1.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $1.23. ICU Medical had a return on equity of 9.63% and a net margin of 18.76%. The business had revenue of $247.74 million during the quarter, compared to analysts’ expectations of $237.12 million. During the same period in the prior year, the firm posted $1.26 EPS. ICU Medical’s quarterly revenue was up 175.7% compared to the same quarter last year. Equities research analysts predict that ICU Medical, Inc. will post $4.14 earnings per share for the current year.
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ICUI has been the subject of a number of analyst reports. Zacks Investment Research lowered ICU Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Sidoti lowered ICU Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 20th. BidaskClub upgraded ICU Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Roth Capital lowered 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. ICU Medical presently has a consensus rating of “Hold” and an average target price of $156.00.
In related news, VP Alison D. Burcar sold 18,290 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.72, for a total transaction of $2,939,568.80. Following the completion of the sale, the vice president now directly owns 3,727 shares of the company’s stock, valued at approximately $599,003.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Vivek Jain sold 100,000 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 110,925 shares of the company’s stock, valued at $18,945,990. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,349 shares of company stock valued at $38,623,370. 15.90% of the stock is currently owned by insiders.
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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