ICU Medical, Inc. (ICUI) Lowered to Strong Sell at Zacks Investment Research
ICU Medical, Inc. (NASDAQ:ICUI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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. “
Several other brokerages have also recently weighed in on ICUI. Roth Capital cut shares of ICU Medical from a “buy” rating to a “neutral” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. BidaskClub cut shares of ICU Medical from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Gabelli reissued a “buy” rating on shares of ICU Medical in a report on Friday. Finally, Sidoti lowered shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. ICU Medical has a consensus rating of “Hold” and an average price target of $193.00.
ICU Medical (NASDAQ:ICUI) traded up 0.87% during trading on Tuesday, hitting $168.90. 100,665 shares of the company were exchanged. ICU Medical has a 12 month low of $120.14 and a 12 month high of $176.50. The stock’s 50-day moving average is $171.87 and its 200-day moving average is $159.53. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 67.64 and a beta of 0.37.
ICU Medical (NASDAQ:ICUI) last announced its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The company had revenue of $331.51 million for the quarter, compared to analysts’ expectations of $318.30 million. ICU Medical had a return on equity of 7.56% and a net margin of 6.10%. The company’s quarterly revenue was up 242.8% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Equities research analysts anticipate that ICU Medical will post $4.11 earnings per share for the current year.
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In related news, VP Alison D. Burcar sold 18,290 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were 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 owns 3,727 shares of the company’s stock, valued at approximately $599,003.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Swinney sold 4,477 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $175.00, for a total transaction of $783,475.00. Following the completion of the transaction, the director now directly owns 23,293 shares of the company’s stock, valued at approximately $4,076,275. The disclosure for this sale can be found here. Insiders have sold a total of 222,849 shares of company stock valued at $37,892,075 in the last ninety days. Corporate insiders own 15.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted 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 worth $102,000 after buying an additional 505 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in ICU Medical by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the medical instruments supplier’s stock worth $916,000 after buying an additional 100 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in ICU Medical by 2.7% in the first quarter. Rice Hall James & Associates LLC now owns 3,713 shares of the medical instruments supplier’s stock worth $567,000 after buying an additional 98 shares in the last quarter. State of Alaska Department of Revenue boosted its position in 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 worth $250,000 after buying an additional 40 shares in the last quarter. Finally, Diversified Trust Co boosted its position in ICU Medical by 6.3% in the first quarter. Diversified Trust Co now owns 1,700 shares of the medical instruments supplier’s stock worth $260,000 after buying an additional 100 shares in the last quarter. 77.10% of the stock is owned by institutional investors.
ICU Medical Company Profile
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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