ICU Medical (NASDAQ:ICUI) Now Covered by Needham & Company LLC

Needham & Company LLC started coverage on shares of ICU Medical (NASDAQ:ICUI) in a report published on Friday, MarketBeat reports. The firm issued a hold rating on the medical instruments supplier’s stock.

ICUI has been the topic of several other reports. KeyCorp raised their price objective on shares of ICU Medical from $134.00 to $136.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Raymond James raised shares of ICU Medical from a market perform rating to an outperform rating and set a $135.00 price objective on the stock in a research report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, ICU Medical currently has a consensus rating of Moderate Buy and a consensus target price of $127.00.

ICU Medical Price Performance

Shares of NASDAQ:ICUI opened at $116.10 on Friday. The company’s fifty day moving average price is $104.85 and its 200 day moving average price is $100.97. ICU Medical has a 12 month low of $78.28 and a 12 month high of $182.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.61 and a quick ratio of 1.09. The firm has a market capitalization of $2.83 billion, a P/E ratio of -47.39 and a beta of 0.73.

ICU Medical (NASDAQ:ICUI) last announced its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. ICU Medical had a negative net margin of 2.63% and a positive return on equity of 5.38%. The firm had revenue of $566.66 million for the quarter, compared to analyst estimates of $553.15 million. As a group, sell-side analysts predict that ICU Medical will post 3.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Christian B. Voigtlander sold 12,539 shares of ICU Medical stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $103.95, for a total value of $1,303,429.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Ben Sousa sold 2,000 shares of ICU Medical stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.55, for a total value of $211,100.00. Following the sale, the insider now owns 1,319 shares of the company’s stock, valued at $139,220.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Christian B. Voigtlander sold 12,539 shares of ICU Medical stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $103.95, for a total transaction of $1,303,429.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,839 shares of company stock valued at $1,546,014. Insiders own 6.70% of the company’s stock.

Institutional Trading of ICU Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of ICU Medical by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 168,957 shares of the medical instruments supplier’s stock valued at $20,108,000 after purchasing an additional 11,364 shares during the period. UBS Group AG lifted its stake in shares of ICU Medical by 241.6% in the third quarter. UBS Group AG now owns 18,864 shares of the medical instruments supplier’s stock valued at $2,245,000 after purchasing an additional 13,341 shares during the period. Citigroup Inc. lifted its stake in shares of ICU Medical by 361.4% in the third quarter. Citigroup Inc. now owns 6,173 shares of the medical instruments supplier’s stock valued at $735,000 after purchasing an additional 4,835 shares during the period. FMR LLC lifted its stake in shares of ICU Medical by 89.9% in the third quarter. FMR LLC now owns 1,124,995 shares of the medical instruments supplier’s stock valued at $133,886,000 after purchasing an additional 532,483 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of ICU Medical in the third quarter valued at about $383,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

About ICU Medical

ICU Medical, Inc, together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy, vascular access, and vital care applications worldwide. Its infusion therapy products include needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoClave and ChemoLock closed system transfer devices, which are used to limit the escape of hazardous drugs or vapor concentrations, block the transfer of environmental contaminants into the system, and eliminates the risk of needlestick injury; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; and ClearGuard, SwabCap, and SwabTip disinfection caps.