ICU Medical (ICUI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of ICU Medical (NASDAQ:ICUI) from a buy rating to a hold rating in a report issued on Wednesday.

According to Zacks, “ICU Medical, Inc. develops, manufactures and sells innovative medical devices used in vascular therapy, oncology and critical care applications. They are one of the world’s leading pure-play infusion therapy companies, with global operations and a wide-ranging product portfolio that includes IV solutions, IV smart pumps, dedicated and non-dedicated IV sets and needlefree connectors, along with pain management and safety software technology designed to help meet clinical, safety and workflow goals. In addition, they manufacture automated pharmacy IV compounding systems with workflow technology, closed systems transfer devices for hazardous IV drugs, and cardiac monitoring systems to optimize patient fluid levels. “

Separately, KeyCorp assumed coverage on ICU Medical in a research note on Tuesday, October 17th. They set a sector weight rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $232.00.

Shares of ICU Medical (NASDAQ ICUI) traded up $0.55 during midday trading on Wednesday, reaching $222.70. The company’s stock had a trading volume of 176,890 shares, compared to its average volume of 95,986. The company has a current ratio of 4.65, a quick ratio of 3.01 and a debt-to-equity ratio of 0.07. The company has a market cap of $4,470.00, a price-to-earnings ratio of 145.56, a P/E/G ratio of 2.43 and a beta of 0.36. ICU Medical has a 52-week low of $131.35 and a 52-week high of $225.38.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Thursday, November 9th. The medical instruments supplier reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.35. The firm had revenue of $343.20 million during the quarter, compared to analyst estimates of $328.56 million. ICU Medical had a return on equity of 4.81% and a net margin of 2.79%. The firm’s quarterly revenue was up 253.5% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. analysts predict that ICU Medical will post 3.95 EPS for the current year.

In other news, Chairman Vivek Jain sold 97,795 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $190.00, for a total transaction of $18,581,050.00. Following the completion of the sale, the chairman now directly owns 67,680 shares of the company’s stock, valued at approximately $12,859,200. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert S. Swinney sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $215.10, for a total value of $215,100.00. Following the sale, the director now directly owns 13,330 shares of the company’s stock, valued at $2,867,283. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,419 shares of company stock valued at $25,454,700. Corporate insiders own 13.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pura Vida Investments LLC lifted its holdings in shares of ICU Medical by 27.8% in the third quarter. Pura Vida Investments LLC now owns 57,500 shares of the medical instruments supplier’s stock valued at $10,686,000 after purchasing an additional 12,500 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of ICU Medical by 5.8% in the third quarter. California Public Employees Retirement System now owns 28,342 shares of the medical instruments supplier’s stock valued at $5,267,000 after purchasing an additional 1,542 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of ICU Medical in the third quarter valued at $572,000. Point72 Asset Management L.P. purchased a new stake in shares of ICU Medical in the third quarter valued at $22,246,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of ICU Medical by 17.6% in the third quarter. Janus Henderson Group PLC now owns 1,684,094 shares of the medical instruments supplier’s stock valued at $312,989,000 after purchasing an additional 251,793 shares in the last quarter. Institutional investors own 78.13% of the company’s stock.

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About ICU Medical

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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