ICU Medical (NASDAQ:ICUI) Hits New 52-Week High on Strong Earnings

ICU Medical, Inc. (NASDAQ:ICUI)’s stock price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $196.26 and last traded at $179.32, with a volume of 189407 shares traded. The stock had previously closed at $178.01.

The medical instruments supplier reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.35. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.04%. The company had revenue of $580.07 million during the quarter, compared to the consensus estimate of $574.77 million.

Wall Street Analysts Forecast Growth

ICUI has been the topic of several recent analyst reports. StockNews.com lowered ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James upped their price objective on ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Jefferies Financial Group began coverage on shares of ICU Medical in a report on Monday, October 14th. They issued a “hold” rating and a $183.00 target price on the stock. KeyCorp lifted their price target on ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Buying and Selling

In related news, CEO Vivek Jain sold 12,000 shares of ICU Medical stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.84, for a total value of $2,062,080.00. Following the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at $17,973,261.12. The trade was a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel Woolson sold 2,502 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $163.22, for a total transaction of $408,376.44. Following the completion of the transaction, the vice president now owns 13,107 shares of the company’s stock, valued at $2,139,324.54. This represents a 16.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,502 shares of company stock valued at $6,573,496 over the last quarter. 6.70% of the stock is currently owned by insiders.

Institutional Trading of ICU Medical

Several large investors have recently modified their holdings of ICUI. Hexagon Capital Partners LLC raised its position in shares of ICU Medical by 162.7% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 122 shares during the last quarter. Allworth Financial LP increased its stake in ICU Medical by 100.0% during the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 100 shares during the period. Innealta Capital LLC acquired a new position in shares of ICU Medical in the second quarter worth about $32,000. Motco acquired a new position in shares of ICU Medical in the 1st quarter valued at approximately $29,000. Finally, Venturi Wealth Management LLC boosted its stake in ICU Medical by 1,510.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 302 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

ICU Medical Trading Down 1.6 %

The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -37.63 and a beta of 0.66. The business’s 50 day moving average price is $176.32 and its 200-day moving average price is $142.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 2.41.

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.