ICU Medical (NASDAQ:ICUI) Reaches New 52-Week High Following Better-Than-Expected Earnings

ICU Medical, Inc. (NASDAQ:ICUI - Get Free Report) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $196.26 and last traded at $179.32, with a volume of 189407 shares traded. The stock had previously closed at $178.01.

The medical instruments supplier reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.35. ICU Medical had a positive return on equity of 5.04% and a negative net margin of 4.74%. The business had revenue of $580.07 million for the quarter, compared to analyst estimates of $574.77 million.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ICUI shares. StockNews.com lowered ICU Medical from a "buy" rating to a "hold" rating in a research note on Tuesday. KeyCorp increased their target price on ICU Medical from $198.00 to $209.00 and gave the stock an "overweight" rating in a research note on Wednesday. Raymond James increased their target price on ICU Medical from $158.00 to $190.00 and gave the stock an "outperform" rating in a research note on Thursday, September 12th. Needham & Company LLC reiterated a "hold" rating on shares of ICU Medical in a research note on Wednesday. Finally, Jefferies Financial Group began coverage on ICU Medical in a research report on Monday, October 14th. They set a "hold" rating and a $183.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.00.

Insider Transactions at ICU Medical

In other news, CEO Vivek Jain sold 12,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.84, for a total transaction of $2,062,080.00. Following the transaction, the chief executive officer now owns 104,593 shares of the company's stock, valued at approximately $17,973,261.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Vivek Jain sold 12,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.84, for a total transaction of $2,062,080.00. Following the sale, the chief executive officer now owns 104,593 shares of the company's stock, valued at $17,973,261.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel Woolson sold 2,502 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $163.22, for a total value of $408,376.44. Following the sale, the vice president now directly owns 13,107 shares in the company, valued at approximately $2,139,324.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,502 shares of company stock valued at $8,445,976. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ICU Medical

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its position in ICU Medical by 162.7% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier's stock valued at $36,000 after purchasing an additional 122 shares in the last quarter. Allworth Financial LP raised its stake in ICU Medical by 100.0% in the third quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier's stock valued at $36,000 after buying an additional 100 shares during the last quarter. Innealta Capital LLC purchased a new stake in ICU Medical in the second quarter valued at about $32,000. Motco purchased a new stake in ICU Medical in the first quarter valued at about $29,000. Finally, Venturi Wealth Management LLC raised its stake in ICU Medical by 1,510.0% in the third quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier's stock valued at $59,000 after buying an additional 302 shares during the last quarter. Institutional investors own 96.10% of the company's stock.

ICU Medical Stock Performance

The business has a 50 day simple moving average of $176.11 and a 200 day simple moving average of $141.98. The company has a quick ratio of 1.08, a current ratio of 2.41 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4.27 billion, a PE ratio of -38.25 and a beta of 0.66.

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.