Brokerages Expect ICU Medical, Inc. (ICUI) Will Announce Quarterly Sales of $324.70 Million
Analysts forecast that ICU Medical, Inc. (NASDAQ:ICUI) will post sales of $324.70 million for the current quarter, Zacks reports. Two analysts have provided estimates for ICU Medical’s earnings, with the highest sales estimate coming in at $327.70 million and the lowest estimate coming in at $321.70 million. ICU Medical reported sales of $97.11 million in the same quarter last year, which would suggest a positive year over year growth rate of 234.4%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, November 9th.
According to Zacks, analysts expect that ICU Medical will report full year sales of $324.70 million for the current year, with estimates ranging from $1.22 billion to $1.25 billion. For the next financial year, analysts forecast that the firm will post sales of $1.33 billion per share, with estimates ranging from $1.30 billion to $1.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow ICU Medical.
ICU Medical (NASDAQ:ICUI) last posted its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.06). ICU Medical had a net margin of 6.10% and a return on equity of 7.56%. The business had revenue of $331.51 million during the quarter, compared to analysts’ expectations of $318.30 million. During the same quarter in the prior year, the firm earned $1.15 EPS. ICU Medical’s revenue for the quarter was up 242.8% compared to the same quarter last year.
ICUI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded ICU Medical from a “hold” rating to a “strong-buy” rating and set a $195.00 target price on the stock in a research report on Wednesday, July 12th. KeyCorp initiated coverage on ICU Medical in a research report on Tuesday, October 17th. They issued a “sector weight” rating on the stock. Gabelli restated a “buy” rating on shares of ICU Medical in a research report on Friday, August 11th. Finally, BidaskClub upgraded ICU Medical from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $193.00.
Shares of ICU Medical (NASDAQ:ICUI) opened at $193.55 on Wednesday. ICU Medical has a 1 year low of $127.00 and a 1 year high of $195.40. The company has a quick ratio of 2.66, a current ratio of 4.78 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3,870.00, a price-to-earnings ratio of 52.59 and a beta of 0.33.
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In other news, Director Robert S. Swinney sold 463 shares of ICU Medical stock in a transaction on Friday, September 15th. The stock was sold at an average price of $181.25, for a total value of $83,918.75. Following the completion of the sale, the director now directly owns 14,330 shares of the company’s stock, valued at $2,597,312.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Vivek Jain sold 97,795 shares of ICU Medical stock in a transaction on Friday, October 20th. The shares were sold at an average price of $190.00, for a total value of $18,581,050.00. Following the completion of the sale, the chairman now directly owns 67,680 shares of the company’s stock, valued at $12,859,200. The disclosure for this sale can be found here. Insiders sold 120,247 shares of company stock valued at $22,708,888 over the last ninety days. Insiders own 13.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ICUI. BlackRock Inc. grew its stake in shares of ICU Medical by 87,088.7% in the first quarter. BlackRock Inc. now owns 1,769,930 shares of the medical instruments supplier’s stock valued at $270,268,000 after buying an additional 1,767,900 shares in the last quarter. KCG Holdings Inc. acquired a new position in ICU Medical during the 1st quarter worth $320,000. Schwab Charles Investment Management Inc. grew its stake in ICU Medical by 8.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 62,048 shares of the medical instruments supplier’s stock worth $9,475,000 after purchasing an additional 4,829 shares in the last quarter. Bank of America Corp DE grew its stake in ICU Medical by 35.6% during the 1st quarter. Bank of America Corp DE now owns 98,059 shares of the medical instruments supplier’s stock worth $14,974,000 after purchasing an additional 25,740 shares in the last quarter. Finally, State Street Corp grew its stake in ICU Medical by 8.1% during the 1st quarter. State Street Corp now owns 369,312 shares of the medical instruments supplier’s stock worth $56,392,000 after purchasing an additional 27,564 shares in the last quarter. 78.16% of the stock is owned by institutional investors and hedge funds.
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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