Zacks Investment Research Lowers ICU Medical Inc. (ICUI) to Hold
ICU Medical Inc. (NASDAQ:ICUI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Separately, Piper Jaffray Cos. reiterated a “neutral” rating and set a $119.00 price target (up from $115.00) on shares of ICU Medical in a research report on Thursday, August 11th.
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ICU Medical (NASDAQ:ICUI) traded up 1.36% during trading on Tuesday, hitting $124.01. The stock had a trading volume of 129,617 shares. The firm’s 50 day moving average is $123.29 and its 200 day moving average is $109.51. ICU Medical has a 1-year low of $85.56 and a 1-year high of $128.93. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 36.93 and a beta of 0.49.
ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Monday, August 8th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. ICU Medical had a return on equity of 10.33% and a net margin of 14.94%. The company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $89.66 million. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts anticipate that ICU Medical will post $4.54 earnings per share for the current year.
In related news, Chairman Vivek Jain sold 7,268 shares of ICU Medical stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $124.25, for a total value of $903,049.00. Following the transaction, the chairman now directly owns 48,497 shares in the company, valued at approximately $6,025,752.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven Riggs sold 20,000 shares of ICU Medical stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the vice president now owns 21,378 shares in the company, valued at $2,351,580. The disclosure for this sale can be found here. 15.90% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of ICUI. Tower Research Capital LLC TRC acquired a new position in shares of ICU Medical during the second quarter worth $124,000. Bank of Montreal Can acquired a new position in shares of ICU Medical during the second quarter worth $133,000. Amalgamated Bank acquired a new position in shares of ICU Medical during the second quarter worth $214,000. PineBridge Investments L.P. increased its position in shares of ICU Medical by 3.6% in the second quarter. PineBridge Investments L.P. now owns 1,835 shares of the company’s stock worth $207,000 after buying an additional 63 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of ICU Medical by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,003 shares of the company’s stock worth $226,000 after buying an additional 243 shares in the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.
ICU Medical Company Profile
ICU Medical, Inc is engaged in the development, manufacturing and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, closed system transfer devices (CSTD), needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.
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