ICU Medical, Inc. (NASDAQ:ICUI) released its earnings results on Wednesday. The medical instruments supplier reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.06, Morningstar.com reports. ICU Medical had a net margin of 6.10% and a return on equity of 8.27%. The business had revenue of $331.51 million during the quarter, compared to analyst estimates of $318.30 million. During the same period last year, the business posted $1.15 EPS. ICU Medical’s revenue was up 242.8% compared to the same quarter last year. ICU Medical updated its FY17 guidance to $3.80-4.20 EPS.
Shares of ICU Medical (ICUI) traded down 1.05% on Friday, reaching $164.90. 157,095 shares of the company traded hands. The firm has a 50-day moving average of $172.11 and a 200-day moving average of $158.73. ICU Medical has a 52-week low of $120.15 and a 52-week high of $176.50. The company has a market capitalization of $3.27 billion, a PE ratio of 66.04 and a beta of 0.37.
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ICUI has been the subject of a number of recent analyst reports. Gabelli reissued a “buy” rating on shares of ICU Medical in a report on Friday. Zacks Investment Research raised ICU Medical from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a report on Thursday, July 20th. Roth Capital downgraded ICU Medical from a “buy” rating to a “neutral” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. BidaskClub raised ICU Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Sidoti downgraded ICU Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. ICU Medical currently has an average rating of “Hold” and an average price target of $156.00.
In other news, Director Robert S. Swinney sold 594 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.92, for a total transaction of $95,586.48. Following the completion of the sale, the director now directly owns 14,793 shares of the company’s stock, valued at $2,380,489.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph R. Saucedo sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $162.51, for a total value of $731,295.00. Following the sale, the director now directly owns 3,091 shares of the company’s stock, valued at $502,318.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,349 shares of company stock valued at $38,623,370. 15.90% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its stake in shares of ICU Medical by 11.1% in the second quarter. Parametric Portfolio Associates LLC now owns 29,688 shares of the medical instruments supplier’s stock valued at $5,121,000 after buying an additional 2,973 shares in the last quarter. Advisor Group Inc. increased its stake in shares of ICU Medical by 436.2% in the second quarter. Advisor Group Inc. now owns 3,743 shares of the medical instruments supplier’s stock valued at $645,000 after buying an additional 3,045 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of ICU Medical by 7.6% in the second quarter. Suntrust Banks Inc. now owns 2,462 shares of the medical instruments supplier’s stock valued at $423,000 after buying an additional 174 shares in the last quarter. Sawgrass Asset Management LLC increased its stake in shares of ICU Medical by 22.0% in the second quarter. Sawgrass Asset Management LLC now owns 1,830 shares of the medical instruments supplier’s stock valued at $316,000 after buying an additional 330 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of ICU Medical during the second quarter valued at approximately $245,000. 77.85% of the stock is owned by institutional investors and hedge funds.
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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