ICU Medical, Inc. (NASDAQ:ICUI – Get Free Report) shares reached a new 52-week high on Thursday after the company reported better-than-expected quarterly results. The company’s share price reached $152.82 and was last traded at $143.07 on volume of 67,898 shares. The stock had previously closed at $121.79.
The medical instruments provider reported earnings per share of $1.56 for the quarter, beating the consensus estimate of $1.00 by $0.56. ICU Medical had a positive return on equity of 5.38% and a negative net margin of 2.63%. The company posted revenue of $596.50 million during the quarter, compared to analyst expectations of $556.64 million. In the same quarter last year, the company reported earnings per share of $1.58. The company’s quarterly revenue grew 8.6% year-over-year.
Analysts set new price targets
Several analysts have published reports on the company. KeyCorp raised their price target on ICU Medical from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James raised their price target on ICU Medical from $135.00 to $158.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research report on Thursday. Two equities analysts have rated the stock with a “hold” rating and three have given a “buy” rating. According to MarketBeat.com, ICU Medical currently has an average rating of “moderate buy” and a consensus price target of $138.33.
Check out our latest report on ICUI
Insider activity
In other ICU Medical news, Vice President Virginia Ruth Sanzone sold 2,050 shares of the company’s stock on Thursday, August 8. The shares were sold at an average price of $144.11, for a total value of $295,425.50. Following the sale, the Vice President now directly owns 4,482 shares of the company’s stock, valued at approximately $645,901.02. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, Director Elisha W. Finney sold 300 shares of the company’s stock on Thursday, May 16. The shares were sold at an average price of $104.95, for a total value of $31,485.00. Following the completion of the sale, the director now directly owns 2,129 shares of the company’s stock, valued at approximately $223,438.55. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible through this link. Also, Vice President Virginia Ruth Sanzone sold 2,050 shares of the company’s stock in a transaction that occurred on Thursday, August 8. The shares were sold at an average price of $144.11, for a total value of $295,425.50. Following the sale, the vice president now directly owns 4,482 shares of the company’s stock, valued at $645,901.02. The disclosure for this sale can be found here. During the last quarter, insiders sold 14,889 shares of the company’s stock, valued at $1,630,340. 6.70% of the shares are owned by insiders.
Institutional investors comment on ICU Medical
Several institutional investors have recently made changes to their positions in ICUI. CWM LLC increased its holdings in shares of ICU Medical by 18.5% in the second quarter. CWM LLC now owns 767 shares of the medical instruments provider’s stock worth $91,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in ICU Medical by 75.1% in the first quarter. GAMMA Investing LLC now owns 310 shares of the medical instruments provider’s stock worth $33,000 after purchasing an additional 133 shares during the same period. Russell Investments Group Ltd. increased its holdings in shares of ICU Medical by 46.4% in the first quarter. Russell Investments Group Ltd. now owns 546 shares of the medical instruments provider’s stock worth $59,000 after purchasing an additional 173 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ICU Medical by 7.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,576 shares of the medical equipment supplier’s stock worth $257,000 after purchasing an additional 187 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of ICU Medical by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 17,708 shares of the medical equipment supplier’s stock worth $1,900,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.
ICU Medical shares rise 0.9%
The company has a market cap of $3.72 billion, a P/E ratio of -62.33 and a beta of 0.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.61 and a quick ratio of 1.09. The company’s 50-day moving average is $121.24 and its 200-day moving average is $108.02.
About ICU Medical
(Get free report)
ICU Medical, Inc., together with its subsidiaries, designs, manufactures and sells medical devices for infusion therapy, vascular access and vital care applications worldwide. Infusion therapy products include MicroClave, MicroClave Clear and NanoClave branded needle-free products; Neutron catheter patency devices; ChemoClave and ChemoLock closed system transfer devices that limit the escape of hazardous medication or vapor concentrations, prevent environmental contaminants from entering the system and eliminate the risk of needlestick injuries; Tego needle-free connectors; Deltec GRIPPER non-punch needles for portal access; and ClearGuard, SwabCap and SwabTip disinfection caps.
Read more
Get news and reviews for ICU Medical Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ICU Medical and related companies with MarketBeat.com’s FREE daily email newsletter.
