Bank of New York Mellon Corp Cuts Stock Holdings in ICU Medical, Inc. (NASDAQ:ICUI)

Bank of New York Mellon Corp reduced its position in shares of ICU Medical, Inc. (NASDAQ:ICUI) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,186 shares of the medical instruments supplier’s stock after selling 5,995 shares during the period. Bank of New York Mellon Corp owned 0.76% of ICU Medical worth $25,854,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in ICU Medical in the fourth quarter valued at approximately $40,151,000. GAMMA Investing LLC increased its position in shares of ICU Medical by 17,559.7% during the first quarter. GAMMA Investing LLC now owns 99,424 shares of the medical instruments supplier’s stock worth $138,060,000 after acquiring an additional 98,861 shares during the period. Point72 Asset Management L.P. increased its position in shares of ICU Medical by 63.2% during the fourth quarter. Point72 Asset Management L.P. now owns 245,340 shares of the medical instruments supplier’s stock worth $38,069,000 after acquiring an additional 95,030 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ICU Medical by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 539,981 shares of the medical instruments supplier’s stock worth $83,788,000 after acquiring an additional 82,982 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of ICU Medical during the fourth quarter worth $10,003,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Elisha W. Finney sold 600 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $138.92, for a total value of $83,352.00. Following the completion of the sale, the director owned 3,252 shares in the company, valued at $451,767.84. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christian B. Voigtlander sold 4,985 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.50, for a total transaction of $640,572.50. Following the completion of the sale, the chief operating officer owned 6,088 shares of the company’s stock, valued at approximately $782,308. The trade was a 45.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,097 shares of company stock worth $4,860,156 in the last three months. 1.50% of the stock is currently owned by company insiders.

ICU Medical Stock Performance

NASDAQ:ICUI opened at $124.83 on Thursday. The firm has a market capitalization of $3.07 billion, a PE ratio of -32.59 and a beta of 0.87. The business’s fifty day moving average price is $133.25 and its 200 day moving average price is $144.41. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.59 and a quick ratio of 1.52. ICU Medical, Inc. has a 12 month low of $117.92 and a 12 month high of $196.26.

ICU Medical (NASDAQ:ICUI) last posted its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.72 EPS for the quarter, beating the consensus estimate of $1.23 by $0.49. The firm had revenue of $599.49 million for the quarter, compared to analyst estimates of $574.15 million. ICU Medical had a positive return on equity of 6.75% and a negative net margin of 3.87%. ICU Medical’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, sell-side analysts anticipate that ICU Medical, Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ICUI shares. Raymond James Financial cut their price objective on ICU Medical from $197.00 to $187.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 9th. KeyCorp cut their price objective on ICU Medical from $209.00 to $191.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Wall Street Zen raised ICU Medical from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ICU Medical in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ICU Medical has a consensus rating of “Buy” and an average target price of $192.67.

ICU Medical 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.