ICU Medical (ICUI) Downgraded to “Hold” at Zacks Investment Research

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

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 started coverage on shares of ICU Medical in a research report on Tuesday, October 17th. They issued a sector weight rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $232.00.

ICU Medical (NASDAQ ICUI) opened at $224.00 on Wednesday. ICU Medical has a 12-month low of $131.35 and a 12-month high of $225.38. The company has a market cap of $4,483.07, a PE ratio of 145.46, a PEG ratio of 2.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.65 and a quick ratio of 3.01.

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

In related news, Director George A. Lopez sold 5,000 shares of ICU Medical stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $205.83, for a total transaction of $1,029,150.00. Following the completion of the sale, the director now owns 573,916 shares of the company’s stock, valued at approximately $118,129,130.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Vivek Jain sold 97,795 shares of ICU Medical stock in a transaction dated 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 sale, the chairman now directly owns 67,680 shares of the company’s stock, valued at approximately $12,859,200. The disclosure for this sale can be found here. Insiders have sold a total of 129,419 shares of company stock valued at $25,454,700 in the last ninety days. 13.60% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in ICUI. Janus Henderson Group PLC bought a new stake in shares of ICU Medical during the 2nd quarter worth about $247,072,000. Fiera Capital Corp bought a new stake in shares of ICU Medical during the 2nd quarter worth about $36,962,000. Vanguard Group Inc. boosted its holdings in shares of ICU Medical by 16.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,304,282 shares of the medical instruments supplier’s stock worth $224,989,000 after buying an additional 183,133 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of ICU Medical during the 3rd quarter worth about $22,246,000. Finally, Citadel Advisors LLC bought a new stake in shares of ICU Medical during the 3rd quarter worth about $18,135,000. 78.13% of the stock is owned by institutional investors and hedge funds.

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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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