ICU Medical, Inc. (ICUI) Raised 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 note issued to investors on Thursday. The firm presently has a $193.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.11% from the company’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. “
A number of other analysts have also recently weighed in on ICUI. BidaskClub cut ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Sidoti lowered ICU Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 20th. Finally, Roth Capital lowered 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. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $156.00.
ICU Medical (NASDAQ:ICUI) traded down 1.94% during trading on Thursday, reaching $172.15. The company had a trading volume of 87,526 shares. The stock has a 50 day moving average price of $170.57 and a 200 day moving average price of $155.16. ICU Medical has a 12 month low of $111.73 and a 12 month high of $176.50. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 31.65 and a beta of 0.37.
ICU Medical (NASDAQ:ICUI) last issued its earnings results on Wednesday, May 10th. The medical instruments supplier reported $1.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $1.23. The business had revenue of $247.74 million during the quarter, compared to analysts’ expectations of $237.12 million. ICU Medical had a return on equity of 9.63% and a net margin of 18.76%. ICU Medical’s revenue was up 175.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. On average, equities research analysts predict that ICU Medical will post $4.14 earnings per share for the current year.
In other ICU Medical news, VP Alison D. Burcar sold 18,290 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $160.72, for a total transaction of $2,939,568.80. Following the completion of the sale, the vice president now owns 3,727 shares in the company, valued at approximately $599,003.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $731,295.00. Following the sale, the director now owns 3,091 shares of the company’s stock, valued at approximately $502,318.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,349 shares of company stock worth $38,623,370. Company insiders own 15.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in ICU Medical by 315.6% in the first quarter. Creative Planning now owns 665 shares of the medical instruments supplier’s stock worth $102,000 after buying an additional 505 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in ICU Medical during the first quarter worth approximately $194,000. Sawgrass Asset Management LLC purchased a new stake in ICU Medical during the first quarter worth approximately $229,000. Quantitative Systematic Strategies LLC purchased a new stake in ICU Medical during the second quarter worth approximately $233,000. Finally, Janney Montgomery Scott LLC boosted its stake in 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 worth $245,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 77.90% 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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