ICU Medical (NASDAQ:ICUI) Issues Earnings Results

ICU Medical (NASDAQ:ICUI) announced its quarterly earnings results on Tuesday. The medical instruments supplier reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.35, reports. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.05%. The company had revenue of $580.07 million for the quarter, compared to analysts’ expectations of $574.77 million. ICU Medical updated its FY24 guidance to $5.40-5.70 EPS and its FY 2024 guidance to 5.400-5.700 EPS.

ICU Medical Stock Down 1.6 %

NASDAQ ICUI opened at $171.96 on Friday. The stock has a 50 day moving average price of $176.32 and a 200-day moving average price of $142.19. ICU Medical has a one year low of $82.82 and a one year high of $196.26. The company has a current ratio of 2.29, a quick ratio of 1.08 and a debt-to-equity ratio of 0.75.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ICUI. KeyCorp upped their price objective on ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com cut shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James lifted their target price on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research report on Wednesday. Finally, Jefferies Financial Group began coverage on ICU Medical in a research note on Monday, October 14th. They issued a “hold” rating and a $183.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.

Insider Buying and Selling

In other news, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.46, for a total value of $2,141,520.00. Following the completion of the sale, the chief executive officer now directly owns 104,593 shares of the company’s stock, valued at $18,665,666.78. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel Woolson sold 2,502 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $163.22, for a total value of $408,376.44. Following the transaction, the vice president now directly owns 13,107 shares in the company, valued at approximately $2,139,324.54. This represents a 16.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,502 shares of company stock worth $6,573,496. Insiders own 6.70% of the company’s stock.

Institutional Trading of ICU Medical

A number of institutional investors have recently bought and sold shares of ICUI. Allworth Financial LP lifted its stake in shares of ICU Medical by 100.0% during the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Xponance Inc. boosted its stake in ICU Medical by 6.0% in the second quarter. Xponance Inc. now owns 1,977 shares of the medical instruments supplier’s stock valued at $235,000 after acquiring an additional 112 shares in the last quarter. Equitable Trust Co. boosted its position in shares of ICU Medical by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 5,213 shares of the medical instruments supplier’s stock worth $950,000 after purchasing an additional 112 shares in the last quarter. CWM LLC grew its stake in ICU Medical by 18.5% during the 2nd quarter. CWM LLC now owns 767 shares of the medical instruments supplier’s stock worth $91,000 after buying an additional 120 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of ICU Medical by 162.7% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 122 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

About ICU Medical

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.