ICU Medical, Inc. (NASDAQ:ICUI) Upgraded at Zacks Investment Research
ICU Medical, Inc. (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, July 12th. The brokerage currently has a $195.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.98% from the company’s current price.
According to Zacks, “ICU Medical, Inc., together with its wholly-owned subsidiary Budget Medical Products, Inc. is a leader in the development, manufacture and sale of proprietary, disposable medical connection systems for use in intravenous therapy applications. The company’s intravenous connectors are designed to prevent accidental disconnection’s of intravenous lines and to protect healthcare workers and their patients from the spread of infectious diseases such as Hepatitis B and Human Immunodeficiency Virus by significantly reducing the risk of accidental needlesticks. “
ICUI has been the subject of several other reports. Sidoti downgraded shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 20th. BidaskClub downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Roth Capital downgraded shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Thursday, May 11th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $156.00.
Shares of ICU Medical (ICUI) opened at 172.60 on Wednesday. The company has a market capitalization of $3.42 billion, a P/E ratio of 30.68 and a beta of 0.37. ICU Medical has a one year low of $112.50 and a one year high of $176.50. The stock has a 50 day moving average price of $171.83 and a 200-day moving average price of $157.13.
ICU Medical (NASDAQ:ICUI) last released its quarterly earnings results on Wednesday, May 10th. The medical instruments supplier reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $1.23. ICU Medical had a net margin of 18.76% and a return on equity of 9.63%. The company had revenue of $247.74 million during the quarter, compared to the consensus estimate of $237.12 million. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s quarterly revenue was up 175.7% on a year-over-year basis. Equities research analysts predict that ICU Medical will post $4.14 earnings per share for the current fiscal year.
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In other ICU Medical news, CFO Scott E. Lamb sold 2,998 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $170.13, for a total transaction of $510,049.74. Following the sale, the chief financial officer now owns 9,050 shares of the company’s stock, valued at $1,539,676.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Swinney sold 594 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $160.92, for a total transaction of $95,586.48. Following the sale, the director now directly owns 14,793 shares in the company, valued at approximately $2,380,489.56. The disclosure for this sale can be found here. In the last three months, insiders sold 227,349 shares of company stock worth $38,623,370. 15.90% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in ICU Medical by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 1,607 shares of the medical instruments supplier’s stock worth $245,000 after buying an additional 7 shares in the last quarter. Alps Advisors Inc. raised its stake in ICU Medical by 0.3% in the second quarter. Alps Advisors Inc. now owns 3,130 shares of the medical instruments supplier’s stock valued at $540,000 after buying an additional 8 shares during the period. Texas Permanent School Fund raised its stake in ICU Medical by 0.3% in the first quarter. Texas Permanent School Fund now owns 10,747 shares of the medical instruments supplier’s stock valued at $1,641,000 after buying an additional 28 shares during the period. Flinton Capital Management LLC raised its stake in ICU Medical by 1.4% in the first quarter. Flinton Capital Management LLC now owns 2,288 shares of the medical instruments supplier’s stock valued at $349,000 after buying an additional 32 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in ICU Medical by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 1,640 shares of the medical instruments supplier’s stock valued at $250,000 after buying an additional 40 shares during the period. Institutional investors own 77.85% of the company’s stock.
ICU Medical Company Profile
ICU Medical, Inc is engaged in the development, manufacture and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, custom infusion sets, closed system transfer devices (CSTD) for the handling of hazardous drugs, advanced sensor catheters, needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.
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