ICU Medical (NASDAQ:ICUI) Stock Rating Upgraded by Zacks Investment Research

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ICU Medical (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded ICU Medical from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Raymond James upped their target price on ICU Medical from $185.00 to $203.00 and gave the company a “positive” rating in a report on Tuesday, November 12th. Finally, ValuEngine raised ICU Medical from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $242.00.

Shares of ICU Medical stock traded down $6.84 during trading on Tuesday, hitting $187.51. 4,280 shares of the stock traded hands, compared to its average volume of 104,941. The stock’s fifty day simple moving average is $185.55 and its 200 day simple moving average is $186.91. The firm has a market cap of $3.91 billion, a P/E 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.

ICU Medical (NASDAQ:ICUI) last released its quarterly earnings data on Monday, November 11th. The medical instruments supplier reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.03. ICU Medical had a net margin of 5.66% and a return on equity of 12.13%. The company had revenue of $307.47 million during the quarter, compared to analyst estimates of $297.83 million. During the same period in the prior year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that ICU Medical will post 7.1 earnings per share for the current fiscal year.

In other news, CFO Scott E. Lamb sold 9,185 shares of the firm’s 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 sale, the chief financial officer now directly owns 22,494 shares in the company, valued at approximately $4,061,966.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George A. Lopez sold 20,000 shares of the firm’s 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 in the company, valued at $67,977,946.56. The disclosure for this sale can be found here. 11.40% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in ICU Medical by 1,389.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 283 shares of the medical instruments supplier’s stock valued at $43,000 after buying an additional 264 shares during the period. Quest Capital Management Inc. ADV acquired a new stake in ICU Medical during the 3rd quarter worth approximately $80,000. Huntington National Bank boosted its stake in ICU Medical by 17.9% in 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 during the period. DRW Securities LLC bought a new stake in ICU Medical in the 2nd quarter valued at $204,000. Finally, Smith Moore & CO. acquired a new position in ICU Medical in the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.

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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