State of Alaska Department of Revenue Decreases Position in ICU Medical, Inc. (NASDAQ:ICUI)

State of Alaska Department of Revenue reduced its stake in ICU Medical, Inc. (NASDAQ:ICUI) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,567 shares of the medical instruments supplier’s stock after selling 289 shares during the quarter. State of Alaska Department of Revenue’s holdings in ICU Medical were worth $1,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of ICU Medical in the first quarter valued at $859,000. Vanguard Group Inc. lifted its position in shares of ICU Medical by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,682,065 shares of the medical instruments supplier’s stock valued at $416,176,000 after acquiring an additional 17,805 shares in the last quarter. Norges Bank purchased a new stake in shares of ICU Medical in the fourth quarter valued at $40,151,000. Proficio Capital Partners LLC purchased a new stake in shares of ICU Medical in the fourth quarter valued at $5,779,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of ICU Medical in the fourth quarter valued at $249,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen upgraded ICU Medical from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research report on Tuesday, April 8th. KeyCorp dropped their target price on ICU Medical from $209.00 to $191.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Raymond James Financial dropped their target price on ICU Medical from $197.00 to $187.00 and set a “strong-buy” rating for the company in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $192.67.

ICU Medical Stock Performance

ICU Medical stock opened at $128.07 on Tuesday. The firm has a market capitalization of $3.15 billion, a P/E ratio of -33.44 and a beta of 0.88. The stock has a fifty day moving average price of $134.70 and a 200 day moving average price of $147.30. ICU Medical, Inc. has a 52 week low of $111.97 and a 52 week high of $196.26. The company has a current ratio of 2.59, a quick ratio of 1.52 and a debt-to-equity ratio of 0.75.

ICU Medical (NASDAQ:ICUI) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.72 EPS for the quarter, beating the consensus estimate of $1.23 by $0.49. The firm had revenue of $599.49 million during the quarter, compared to analyst estimates of $574.15 million. ICU Medical had a positive return on equity of 6.75% and a negative net margin of 3.87%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. Equities research analysts anticipate that ICU Medical, Inc. will post 4.11 earnings per share for the current year.

Insider Activity at ICU Medical

In other ICU Medical news, Director David C. Greenberg sold 1,942 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $143.66, for a total transaction of $278,987.72. Following the completion of the sale, the director now directly owns 6,760 shares in the company, valued at $971,141.60. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Christian B. Voigtlander sold 4,985 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $128.50, for a total value of $640,572.50. Following the sale, the chief operating officer now owns 6,088 shares of the company’s stock, valued at $782,308. This represents a 45.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,097 shares of company stock worth $4,860,156. 1.50% of the stock is currently owned by insiders.

ICU Medical Company Profile

ICU Medical, Inc, together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy, vascular access, and vital care applications worldwide. Its infusion therapy products include needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoClave and ChemoLock closed system transfer devices, which are used to limit the escape of hazardous drugs or vapor concentrations, block the transfer of environmental contaminants into the system, and eliminates the risk of needlestick injury; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; and ClearGuard, SwabCap, and SwabTip disinfection caps.