Norges Bank Makes New $58.08 Million Investment in ICU Medical, Inc. $ICUI

Norges Bank purchased a new stake in ICU Medical, Inc. (NASDAQ:ICUI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 407,115 shares of the medical instruments supplier’s stock, valued at approximately $58,083,000. Norges Bank owned approximately 1.65% of ICU Medical at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baker Avenue Asset Management LP acquired a new position in shares of ICU Medical during the fourth quarter worth about $212,000. Covestor Ltd raised its holdings in ICU Medical by 22.1% in the fourth quarter. Covestor Ltd now owns 696 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 126 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in ICU Medical by 6.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,394 shares of the medical instruments supplier’s stock worth $627,000 after acquiring an additional 275 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in ICU Medical by 49.3% in the fourth quarter. Handelsbanken Fonder AB now owns 8,172 shares of the medical instruments supplier’s stock worth $1,166,000 after acquiring an additional 2,700 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in ICU Medical by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 4,840 shares of the medical instruments supplier’s stock worth $691,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

ICU Medical Price Performance

Shares of NASDAQ:ICUI opened at $136.61 on Monday. ICU Medical, Inc. has a 1-year low of $107.00 and a 1-year high of $160.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.34 and a quick ratio of 1.17. The stock has a market cap of $3.41 billion, a P/E ratio of 73.84, a P/E/G ratio of 1.91 and a beta of 0.77. The firm has a fifty day moving average price of $126.67 and a 200 day moving average price of $138.63.

ICU Medical (NASDAQ:ICUI) last posted its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.19. ICU Medical had a net margin of 2.15% and a return on equity of 7.50%. The company had revenue of $525.77 million for the quarter, compared to analyst estimates of $520.65 million. During the same period in the previous year, the business posted $1.72 earnings per share. ICU Medical’s quarterly revenue was down 12.3% on a year-over-year basis. ICU Medical has set its FY 2026 guidance at 7.750-8.450 EPS. Sell-side analysts predict that ICU Medical, Inc. will post 6.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. KeyCorp dropped their price objective on shares of ICU Medical from $180.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Jefferies Financial Group raised shares of ICU Medical to a “strong-buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of ICU Medical from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Needham & Company LLC raised ICU Medical from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Wednesday, May 27th. Finally, Piper Sandler decreased their price target on ICU Medical from $178.00 to $163.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $168.00.

Insider Activity

In other ICU Medical news, VP Virginia Ruth Sanzone sold 2,447 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $124.08, for a total transaction of $303,623.76. Following the completion of the sale, the vice president directly owned 19,460 shares of the company’s stock, valued at $2,414,596.80. This represents a 11.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David C. Greenberg sold 2,424 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $122.91, for a total value of $297,933.84. Following the sale, the director directly owned 7,960 shares of the company’s stock, valued at $978,363.60. The trade was a 23.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.

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.