ICU Medical, Inc. (NASDAQ:ICUI) Short Interest Down 7.2% in October

ICU Medical, Inc. (NASDAQ:ICUI) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 652,500 shares, a decline of 7.2% from the October 15th total of 703,400 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average trading volume of 253,400 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ICUI shares. Jefferies Financial Group started coverage on shares of ICU Medical in a research note on Monday, October 14th. They issued a “hold” rating and a $183.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ICU Medical in a research note on Wednesday, November 13th. KeyCorp raised their price target on shares of ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Raymond James increased their price objective on shares of ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, StockNews.com cut ICU Medical from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of ICU Medical by 162.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 122 shares during the last quarter. Allworth Financial LP increased its holdings in ICU Medical by 100.0% during the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new stake in ICU Medical in the 2nd quarter valued at approximately $32,000. Venturi Wealth Management LLC increased its position in ICU Medical by 1,510.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 302 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of ICU Medical during the third quarter valued at approximately $72,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

ICU Medical Price Performance

ICU Medical stock opened at $167.86 on Monday. The company has a fifty day simple moving average of $176.43 and a 200-day simple moving average of $143.31. The stock has a market cap of $4.11 billion, a P/E ratio of -36.73 and a beta of 0.66. ICU Medical has a 12-month low of $82.82 and a 12-month 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.

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.