ICU Medical Inc. (ICUI) Lifted to “Buy” at Zacks Investment Research
ICU Medical Inc. (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $141.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.37% from the stock’s previous close.
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 issued a $119.00 target price (up previously from $115.00) on shares of ICU Medical in a research report on Thursday, August 11th.
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Shares of ICU Medical (NASDAQ:ICUI) traded up 1.19% during mid-day trading on Wednesday, reaching $125.48. 85,112 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $123.56 and a 200 day moving average price of $109.63. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 37.37 and a beta of 0.49. ICU Medical has a 52 week low of $85.56 and a 52 week high of $128.93.
ICU Medical (NASDAQ:ICUI) last issued its earnings results on Monday, August 8th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The company earned $96.70 million during the quarter, compared to analyst estimates of $89.66 million. ICU Medical had a return on equity of 10.33% and a net margin of 14.94%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. Equities research analysts predict that ICU Medical will post $4.54 EPS for the current year.
In other ICU Medical news, VP Steven Riggs sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the vice president now owns 21,378 shares in the company, valued at approximately $2,351,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Md Sherman sold 3,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $122.51, for a total value of $367,530.00. Following the transaction, the director now owns 70,699 shares of the company’s stock, valued at approximately $8,661,334.49. The disclosure for this sale can be found here. Corporate insiders own 15.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of ICU Medical by 4.3% in the second quarter. BlackRock Fund Advisors now owns 931,445 shares of the company’s stock worth $105,020,000 after buying an additional 38,161 shares during the period. Renaissance Technologies LLC raised its position in shares of ICU Medical by 3.6% in the first quarter. Renaissance Technologies LLC now owns 842,000 shares of the company’s stock worth $87,652,000 after buying an additional 29,200 shares during the period. FMR LLC raised its position in shares of ICU Medical by 11.0% in the second quarter. FMR LLC now owns 602,812 shares of the company’s stock worth $67,967,000 after buying an additional 59,976 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of ICU Medical by 12.2% in the second quarter. Silvercrest Asset Management Group LLC now owns 575,561 shares of the company’s stock worth $64,894,000 after buying an additional 62,638 shares during the period. Finally, GW&K Investment Management LLC raised its position in shares of ICU Medical by 0.5% in the second quarter. GW&K Investment Management LLC now owns 542,184 shares of the company’s stock worth $61,131,000 after buying an additional 2,798 shares during the period. Institutional investors own 89.50% of the company’s stock.
About ICU Medical
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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