Zacks Investment Research upgraded shares of ICU Medical, Inc. (NASDAQ:ICUI) from a hold rating to a buy rating in a report released on Thursday morning. The firm currently has $232.00 price target on the medical instruments supplier’s stock.
According to Zacks, “ICU Medical, Inc., together with its wholly-owned subsidiary Budget Medical Products, Inc. is a leader in the development, manufacture and sale of proprietary, disposable medical connection systems for use in intravenous therapy applications. The company’s intravenous connectors are designed to prevent accidental disconnection’s of intravenous lines and to protect healthcare workers and their patients from the spread of infectious diseases such as Hepatitis B and Human Immunodeficiency Virus by significantly reducing the risk of accidental needlesticks. “
Several other research firms have also weighed in on ICUI. KeyCorp assumed coverage on ICU Medical in a research note on Tuesday, October 17th. They issued a sector weight rating on the stock. BidaskClub lowered ICU Medical from a hold rating to a sell rating in a research note on Wednesday, August 9th. Finally, Gabelli reiterated a buy rating on shares of ICU Medical in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $232.00.
ICU Medical (ICUI) traded down $2.25 during mid-day trading on Thursday, hitting $209.15. The stock had a trading volume of 152,086 shares, compared to its average volume of 129,379. ICU Medical has a 52 week low of $127.00 and a 52 week high of $212.25. The company has a market cap of $4,210.40, a price-to-earnings ratio of 82.02, a P/E/G ratio of 3.36 and a beta of 0.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.01 and a current ratio of 4.65.
ICU Medical (NASDAQ:ICUI) last released its quarterly earnings data on Thursday, November 9th. The medical instruments supplier reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.35. ICU Medical had a return on equity of 4.81% and a net margin of 2.79%. The company had revenue of $343.20 million for the quarter, compared to analyst estimates of $328.56 million. During the same period in the prior year, the company posted $1.35 EPS. The company’s revenue was up 253.5% compared to the same quarter last year. research analysts expect that ICU Medical will post 3.95 earnings per share for the current fiscal year.
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In related news, Director George A. Lopez sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $205.83, for a total transaction of $1,029,150.00. Following the sale, the director now directly owns 573,916 shares in the company, valued at approximately $118,129,130.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Vivek Jain sold 2,205 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $190.91, for a total value of $420,956.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,247 shares of company stock worth $23,738,038. 13.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castleark Management LLC bought a new stake in ICU Medical during the 2nd quarter worth approximately $283,000. Personal Capital Advisors Corp bought a new stake in ICU Medical during the 2nd quarter worth approximately $1,494,000. Citigroup Inc. grew its position in ICU Medical by 104.3% during the 2nd quarter. Citigroup Inc. now owns 17,190 shares of the medical instruments supplier’s stock worth $2,965,000 after acquiring an additional 8,775 shares during the last quarter. Fiera Capital Corp bought a new stake in ICU Medical during the 2nd quarter worth approximately $36,962,000. Finally, Royce & Associates LP grew its position in ICU Medical by 26.7% during the 2nd quarter. Royce & Associates LP now owns 47,400 shares of the medical instruments supplier’s stock worth $8,177,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.
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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