ICU Medical (NASDAQ:ICUI) Trading Down 6.2% After Analyst Downgrade

ICU Medical, Inc. (NASDAQ:ICUI)’s stock price traded down 6.2% on Tuesday after KeyCorp lowered their price target on the stock from $209.00 to $191.00. KeyCorp currently has an overweight rating on the stock. ICU Medical traded as low as $132.95 and last traded at $128.29. 118,240 shares changed hands during trading, a decline of 56% from the average session volume of 269,985 shares. The stock had previously closed at $136.72.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ICU Medical in a research note on Tuesday, April 8th. StockNews.com raised ICU Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. Finally, Raymond James set a $97.00 target price on shares of ICU Medical in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $162.67.

Institutional Trading of ICU Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its position in ICU Medical by 1.0% during the 4th quarter. Arizona State Retirement System now owns 6,730 shares of the medical instruments supplier’s stock valued at $1,044,000 after purchasing an additional 65 shares during the period. Huntington National Bank increased its holdings in ICU Medical by 6.2% during the fourth quarter. Huntington National Bank now owns 1,402 shares of the medical instruments supplier’s stock valued at $218,000 after buying an additional 82 shares during the period. Equitable Trust Co. raised its stake in ICU Medical by 1.6% in the fourth quarter. Equitable Trust Co. now owns 5,297 shares of the medical instruments supplier’s stock worth $822,000 after buying an additional 84 shares in the last quarter. LPL Financial LLC lifted its holdings in ICU Medical by 2.0% during the fourth quarter. LPL Financial LLC now owns 4,816 shares of the medical instruments supplier’s stock worth $747,000 after buying an additional 93 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in ICU Medical by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 26,107 shares of the medical instruments supplier’s stock worth $4,051,000 after buying an additional 136 shares during the period. 96.10% of the stock is currently owned by institutional investors.

ICU Medical Price Performance

The firm has a 50-day simple moving average of $145.39 and a 200-day simple moving average of $158.99. The firm has a market cap of $3.20 billion, a P/E ratio of -28.60 and a beta of 0.86. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

ICU Medical Company Profile

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.