ICU Medical (NASDAQ:ICUI) Upgraded to “Hold” at Zacks Investment Research

ICU Medical (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “ICU Medical, Inc. develops, manufactures and sells innovative medical devices used in vascular therapy, oncology and critical care applications. They are one of the world’s leading pure-play infusion therapy companies, with global operations and a wide-ranging product portfolio that includes IV solutions, IV smart pumps, dedicated and non-dedicated IV sets and needlefree connectors, along with pain management and safety software technology designed to help meet clinical, safety and workflow goals. In addition, they manufacture automated pharmacy IV compounding systems with workflow technology, closed systems transfer devices for hazardous IV drugs, and cardiac monitoring systems to optimize patient fluid levels. “

ICUI has been the topic of a number of other research reports. Raymond James boosted their price objective on ICU Medical from $185.00 to $203.00 and gave the stock a “positive” rating in a research report on Tuesday, November 12th. BidaskClub lowered ICU Medical from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, ValuEngine upgraded ICU Medical from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $242.00.

ICUI stock traded down $6.84 during midday trading on Tuesday, reaching $187.51. 4,280 shares of the stock were exchanged, compared to its average volume of 104,941. The stock has a market capitalization of $3.91 billion, a PE ratio of 24.33 and a beta of 0.90. ICU Medical has a 52 week low of $148.89 and a 52 week high of $259.72. The company has a fifty day moving average price of $185.55 and a 200 day moving average price of $186.91.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings data on Monday, November 11th. The medical instruments supplier reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $307.47 million for the quarter, compared to analyst estimates of $297.83 million. ICU Medical had a return on equity of 12.13% and a net margin of 5.66%. ICU Medical’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. As a group, sell-side analysts expect that ICU Medical will post 7.1 EPS for the current year.

In other news, CFO Scott E. Lamb sold 9,185 shares of ICU Medical stock in a transaction on Monday, December 9th. The shares were sold at an average price of $180.58, for a total value of $1,658,627.30. Following the completion of the sale, the chief financial officer now owns 22,494 shares in the company, valued at approximately $4,061,966.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George A. Lopez sold 20,000 shares of ICU Medical stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $184.29, for a total transaction of $3,685,800.00. Following the completion of the sale, the director now owns 368,864 shares of the company’s stock, valued at approximately $67,977,946.56. The disclosure for this sale can be found here. 11.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank raised its position in ICU Medical by 17.9% during the 3rd quarter. Huntington National Bank now owns 559 shares of the medical instruments supplier’s stock valued at $89,000 after purchasing an additional 85 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in ICU Medical by 8.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,628 shares of the medical instruments supplier’s stock valued at $259,000 after acquiring an additional 126 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in ICU Medical by 2.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 5,654 shares of the medical instruments supplier’s stock valued at $902,000 after acquiring an additional 135 shares during the last quarter. California State Teachers Retirement System lifted its holdings in ICU Medical by 0.6% in the third quarter. California State Teachers Retirement System now owns 30,726 shares of the medical instruments supplier’s stock valued at $4,904,000 after acquiring an additional 170 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in ICU Medical by 1,389.5% in the third quarter. Quadrant Capital Group LLC now owns 283 shares of the medical instruments supplier’s stock valued at $43,000 after acquiring an additional 264 shares during the last quarter. 91.85% of the stock is owned by hedge funds and other institutional investors.

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.

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