ICU Medical, Inc. (NASDAQ:ICUI) Lowered to “Hold” at Zacks Investment Research
ICU Medical, Inc. (NASDAQ:ICUI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
ICUI has been the subject of a number of other reports. Sidoti downgraded ICU Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 20th. BidaskClub downgraded ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Roth Capital downgraded ICU Medical from a “buy” rating to a “neutral” rating in a research note on Thursday, May 11th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $157.00.
Shares of ICU Medical (NASDAQ:ICUI) traded up 1.41% during midday trading on Friday, hitting $172.95. The company had a trading volume of 104,304 shares. ICU Medical has a 12 month low of $108.51 and a 12 month high of $175.73. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 30.74 and a beta of 0.37. The stock’s 50-day moving average price is $166.30 and its 200-day moving average price is $152.58.
ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings data on Wednesday, May 10th. The medical instruments supplier reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $1.23. The firm had revenue of $247.74 million during the quarter, compared to the consensus estimate of $237.12 million. ICU Medical had a return on equity of 9.63% and a net margin of 18.76%. The firm’s revenue was up 175.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. On average, equities research analysts forecast that ICU Medical will post $4.14 EPS for the current year.
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In other news, CFO Scott E. Lamb sold 23,772 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $170.02, for a total value of $4,041,715.44. Following the completion of the transaction, the chief financial officer now owns 9,050 shares of the company’s stock, valued at $1,538,681. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alison D. Burcar sold 18,290 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.72, for a total value of $2,939,568.80. Following the completion of the transaction, the vice president now directly owns 3,727 shares of the company’s stock, valued at approximately $599,003.44. The disclosure for this sale can be found here. In the last three months, insiders sold 222,872 shares of company stock valued at $37,839,895. Company insiders own 15.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of ICU Medical by 315.6% in the first quarter. Creative Planning now owns 665 shares of the medical instruments supplier’s stock valued at $102,000 after buying an additional 505 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of ICU Medical during the first quarter valued at $194,000. Sawgrass Asset Management LLC purchased a new stake in shares of ICU Medical during the first quarter valued at $229,000. Janney Montgomery Scott LLC raised its stake in shares of ICU Medical by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 1,607 shares of the medical instruments supplier’s stock valued at $245,000 after buying an additional 7 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of ICU Medical by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 1,640 shares of the medical instruments supplier’s stock valued at $250,000 after buying an additional 40 shares during the period. 77.95% of the stock is owned by institutional investors.
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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