ICU Medical (NASDAQ:ICUI) announced its earnings results on Thursday. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.34, Briefing.com reports. ICU Medical had a net margin of 5.93% and a return on equity of 12.78%. The company had revenue of $327.20 million during the quarter, compared to analyst estimates of $334.97 million. During the same period in the previous year, the business earned $1.12 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. ICU Medical updated its FY 2018 guidance to $8.45-8.85 EPS and its FY18 guidance to $8.45-8.85 EPS.
NASDAQ ICUI traded down $28.23 during trading on Friday, hitting $232.01. 689,193 shares of the company’s stock traded hands, compared to its average volume of 181,891. ICU Medical has a 12-month low of $196.33 and a 12-month high of $321.70. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 35.99 and a beta of 0.65.
In other news, Director Pfizer Inc sold 700,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $284.35, for a total transaction of $199,045,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Virginia Ruth Sanzone sold 787 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $303.12, for a total transaction of $238,555.44. Following the transaction, the vice president now directly owns 1,367 shares of the company’s stock, valued at $414,365.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 711,920 shares of company stock valued at $202,651,956. Company insiders own 12.50% of the company’s stock.
Several large investors have recently modified their holdings of ICUI. Martingale Asset Management L P raised its stake in shares of ICU Medical by 452.0% during the third quarter. Martingale Asset Management L P now owns 137,485 shares of the medical instruments supplier’s stock valued at $38,875,000 after acquiring an additional 112,577 shares during the last quarter. BlackRock Inc. raised its stake in shares of ICU Medical by 8.3% during the third quarter. BlackRock Inc. now owns 1,431,253 shares of the medical instruments supplier’s stock valued at $404,685,000 after acquiring an additional 109,396 shares during the last quarter. FMR LLC raised its stake in shares of ICU Medical by 87.4% during the third quarter. FMR LLC now owns 218,602 shares of the medical instruments supplier’s stock valued at $61,810,000 after acquiring an additional 101,972 shares during the last quarter. American Century Companies Inc. bought a new position in shares of ICU Medical during the third quarter valued at about $25,882,000. Finally, First Trust Advisors LP raised its stake in shares of ICU Medical by 436.0% during the third quarter. First Trust Advisors LP now owns 108,440 shares of the medical instruments supplier’s stock valued at $30,661,000 after acquiring an additional 88,207 shares during the last quarter. 73.51% of the stock is owned by hedge funds and other institutional investors.
ICUI has been the subject of several analyst reports. ValuEngine lowered shares of ICU Medical from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of ICU Medical from a “hold” rating to a “strong-buy” rating and set a $337.00 price target for the company in a research report on Wednesday, August 15th. TheStreet upgraded shares of ICU Medical from a “c+” rating to a “b+” rating in a research report on Monday, August 20th. Finally, BidaskClub lowered shares of ICU Medical from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th.
COPYRIGHT VIOLATION WARNING: “ICU Medical (ICUI) Issues Quarterly Earnings Results, Beats Estimates By $0.34 EPS” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/11/10/icu-medical-icui-issues-quarterly-earnings-results-beats-estimates-by-0-34-eps.html.
ICU Medical Company Profile
ICU Medical, Inc develops, manufactures, and sells medical devices used in vascular therapy, critical care, and oncology applications worldwide. It offers infusion therapy products comprising a tube running from a bottle or plastic bag containing a solution to a catheter inserted in a patient's vein.
Featured Article: Diversification For Individual Investors
Receive News & Ratings for ICU Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICU Medical and related companies with MarketBeat.com's FREE daily email newsletter.