ICU Medical (ICUI) Hits New 1-Year High on Earnings Beat
ICU Medical, Incorporated (NASDAQ:ICUI)’s share price reached a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $242.88 and last traded at $223.10, with a volume of 128100 shares changing hands. The stock had previously closed at $223.10.
The medical instruments supplier reported $2.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $1.94. The business had revenue of $370.12 million for the quarter, compared to analyst estimates of $332.91 million. ICU Medical had a net margin of 5.31% and a return on equity of 8.54%. ICU Medical’s revenue was up 286.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS.
Separately, Zacks Investment Research raised shares of ICU Medical from a “hold” rating to a “buy” rating and set a $266.00 target price on the stock in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. ICU Medical has a consensus rating of “Hold” and an average target price of $266.00.
Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of ICU Medical by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,468 shares of the medical instruments supplier’s stock worth $1,979,000 after buying an additional 146 shares during the last quarter. Suntrust Banks Inc. increased its holdings in shares of ICU Medical by 1.7% in the 4th quarter. Suntrust Banks Inc. now owns 14,617 shares of the medical instruments supplier’s stock worth $3,157,000 after buying an additional 239 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of ICU Medical by 0.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 100,334 shares of the medical instruments supplier’s stock worth $21,672,000 after buying an additional 254 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of ICU Medical by 18.1% in the 4th quarter. Profund Advisors LLC now owns 1,804 shares of the medical instruments supplier’s stock worth $390,000 after buying an additional 276 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ICU Medical by 39.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 984 shares of the medical instruments supplier’s stock worth $213,000 after buying an additional 277 shares during the last quarter. 75.52% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a market capitalization of $4,491.12, a P/E ratio of 72.67, a PEG ratio of 2.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.01 and a current ratio of 4.65.
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ICU Medical Company Profile
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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