Zacks Investment Research Upgrades ICU Medical, Inc. (ICUI) to Hold

ICU Medical, Inc. (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other research firms have also recently weighed in on ICUI. Sidoti cut ICU Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 20th. BidaskClub cut ICU Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, Gabelli restated a “buy” rating on shares of ICU Medical in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. ICU Medical presently has a consensus rating of “Hold” and a consensus price target of $193.00.

ICU Medical (NASDAQ:ICUI) last released its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.06). The company had revenue of $331.51 million during the quarter, compared to analysts’ expectations of $318.30 million. ICU Medical had a net margin of 6.10% and a return on equity of 7.56%. The company’s revenue for the quarter was up 242.8% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share.

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In other news, VP Virginia Ruth Sanzone sold 1,784 shares of ICU Medical stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $174.47, for a total transaction of $311,254.48. Following the sale, the vice president now owns 102 shares in the company, valued at $17,795.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Vivek Jain sold 2,205 shares of ICU Medical stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $190.91, for a total value of $420,956.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,929 shares of company stock worth $4,911,313. 15.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ICUI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ICU Medical by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 707 shares of the medical instruments supplier’s stock worth $122,000 after purchasing an additional 66 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of ICU Medical by 99.8% during the second quarter. Riverhead Capital Management LLC now owns 999 shares of the medical instruments supplier’s stock worth $172,000 after purchasing an additional 499 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of ICU Medical by 17.6% during the second quarter. Victory Capital Management Inc. now owns 1,050 shares of the medical instruments supplier’s stock worth $181,000 after purchasing an additional 157 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of ICU Medical during the first quarter worth about $194,000. Finally, Parametrica Management Ltd acquired a new stake in shares of ICU Medical during the second quarter worth about $213,000. Institutional investors and hedge funds own 78.13% 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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