ICU Medical (NASDAQ:ICUI) Shares Gap Up on Insider Buying Activity

ICU Medical, Inc. (NASDAQ:ICUI) shares gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $111.90, but opened at $119.00. ICU Medical shares last traded at $118.60, with a volume of 116,225 shares changing hands.

Specifically, CEO Vivek Jain purchased 21,929 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $112.84 per share, with a total value of $2,474,468.36. Following the acquisition, the chief executive officer owned 130,149 shares of the company’s stock, valued at $14,686,013.16. The trade was a 20.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler assumed coverage on shares of ICU Medical in a research note on Friday. They set an “overweight” rating and a $145.00 price objective for the company. Wall Street Zen lowered shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp reduced their price objective on shares of ICU Medical from $209.00 to $191.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Raymond James Financial reduced their price objective on shares of ICU Medical from $187.00 to $180.00 and set a “strong-buy” rating for the company in a research note on Friday, August 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

ICU Medical Stock Up 8.1%

The business’s 50 day simple moving average is $128.20 and its 200 day simple moving average is $138.42. The company has a quick ratio of 1.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.99 billion, a PE ratio of -79.57 and a beta of 0.88.

ICU Medical (NASDAQ:ICUI) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.66. The business had revenue of $543.57 million during the quarter, compared to analyst estimates of $543.33 million. ICU Medical had a negative net margin of 1.56% and a positive return on equity of 7.24%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. As a group, analysts forecast that ICU Medical, Inc. will post 4.11 EPS for the current year.

Institutional Trading of ICU Medical

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of ICU Medical by 27.2% in the first quarter. GAMMA Investing LLC now owns 716 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 153 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of ICU Medical in the first quarter worth approximately $859,000. Vontobel Holding Ltd. purchased a new stake in shares of ICU Medical in the first quarter worth approximately $235,000. Invesco Ltd. lifted its position in shares of ICU Medical by 12.4% in the fourth quarter. Invesco Ltd. now owns 113,153 shares of the medical instruments supplier’s stock worth $17,558,000 after purchasing an additional 12,489 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of ICU Medical by 88.8% in the fourth quarter. Russell Investments Group Ltd. now owns 638 shares of the medical instruments supplier’s stock worth $99,000 after purchasing an additional 300 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

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.