ICU Medical (NASDAQ:ICUI) Shares Gap Up on Earnings Beat

ICU Medical, Inc. (NASDAQ:ICUI) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $129.67, but opened at $145.60. ICU Medical shares last traded at $142.86, with a volume of 187,842 shares.

The medical instruments supplier reported $2.03 EPS for the quarter, topping the consensus estimate of $1.43 by $0.60. The firm had revenue of $533.30 million during the quarter, compared to the consensus estimate of $511.46 million. ICU Medical had a positive return on equity of 7.24% and a negative net margin of 1.56%.The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. ICU Medical has set its FY 2025 guidance at 7.350-7.650 EPS.

Analyst Ratings Changes

Several brokerages have recently issued reports on ICUI. KeyCorp upped their price target on shares of ICU Medical from $173.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James Financial reduced their price objective on ICU Medical from $187.00 to $180.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded ICU Medical from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Piper Sandler upped their price objective on ICU Medical from $153.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ICU Medical in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ICU Medical has a consensus rating of “Moderate Buy” and a consensus target price of $181.75.

Insider Buying and Selling

In other news, CEO Vivek Jain bought 21,929 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $112.84 per share, for a total transaction of $2,474,468.36. Following the acquisition, the chief executive officer directly owned 130,149 shares in the company, valued at approximately $14,686,013.16. This trade represents a 20.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Greenberg acquired 1,200 shares of ICU Medical stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average price of $126.42 per share, with a total value of $151,704.00. Following the completion of the acquisition, the director directly owned 7,960 shares of the company’s stock, valued at approximately $1,006,303.20. The trade was a 17.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.50% of the stock is owned by insiders.

Institutional Trading of ICU Medical

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of ICU Medical by 3.0% in the first quarter. Principal Financial Group Inc. now owns 136,009 shares of the medical instruments supplier’s stock valued at $18,886,000 after purchasing an additional 3,910 shares during the last quarter. Envestnet Asset Management Inc. grew its position in ICU Medical by 8.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 20,269 shares of the medical instruments supplier’s stock worth $2,815,000 after purchasing an additional 1,534 shares in the last quarter. Xponance Inc. increased its stake in ICU Medical by 5.3% in the 1st quarter. Xponance Inc. now owns 1,714 shares of the medical instruments supplier’s stock valued at $238,000 after buying an additional 86 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of ICU Medical by 5.7% during the 1st quarter. Victory Capital Management Inc. now owns 149,246 shares of the medical instruments supplier’s stock worth $20,724,000 after buying an additional 8,101 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its position in shares of ICU Medical by 66.7% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 21,000 shares of the medical instruments supplier’s stock worth $2,916,000 after buying an additional 8,400 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

ICU Medical Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 2.44. The stock has a market cap of $3.46 billion, a PE ratio of -92.21 and a beta of 0.83. The business has a 50 day moving average price of $124.12 and a two-hundred day moving average price of $128.22.

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.