StockNews.com Upgrades ICU Medical (NASDAQ:ICUI) to Buy

StockNews.com upgraded shares of ICU Medical (NASDAQ:ICUI - Free Report) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other research firms also recently issued reports on ICUI. KeyCorp upped their price objective on shares of ICU Medical from $198.00 to $209.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Raymond James boosted their price objective on ICU Medical from $158.00 to $190.00 and gave the company an "outperform" rating in a research report on Thursday, September 12th. Needham & Company LLC restated a "hold" rating on shares of ICU Medical in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group started coverage on shares of ICU Medical in a report on Monday, October 14th. They issued a "hold" rating and a $183.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $173.00.

ICU Medical Stock Down 1.2 %

NASDAQ:ICUI traded down $2.11 during trading hours on Wednesday, reaching $167.59. The company's stock had a trading volume of 225,130 shares, compared to its average volume of 274,795. ICU Medical has a one year low of $82.82 and a one year high of $196.26. The business's 50-day moving average is $176.59 and its 200-day moving average is $144.30. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -37.13 and a beta of 0.66. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.03.

Insiders Place Their Bets

In related news, CEO Vivek Jain sold 12,000 shares of the firm's 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 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 10.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Daniel Woolson sold 2,502 shares of ICU Medical 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 $2,139,324.54. The trade was a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,502 shares of company stock worth $6,573,496 over the last three months. Insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On ICU Medical

Several hedge funds have recently bought and sold shares of ICUI. Silvercrest Asset Management Group LLC raised its position in ICU Medical by 109.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 278,436 shares of the medical instruments supplier's stock valued at $29,882,000 after purchasing an additional 145,485 shares in the last quarter. Victory Capital Management Inc. raised its holdings in ICU Medical by 2,966.3% in the 2nd quarter. Victory Capital Management Inc. now owns 141,848 shares of the medical instruments supplier's stock worth $16,844,000 after purchasing an additional 137,222 shares during the period. Millennium Management LLC lifted its position in ICU Medical by 327.8% during the second quarter. Millennium Management LLC now owns 136,070 shares of the medical instruments supplier's stock valued at $16,158,000 after purchasing an additional 104,264 shares in the last quarter. FMR LLC increased its position in ICU Medical by 2,676.6% in the third quarter. FMR LLC now owns 104,094 shares of the medical instruments supplier's stock worth $18,968,000 after buying an additional 100,345 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of ICU Medical during the 2nd quarter valued at approximately $10,650,000. Hedge funds and other institutional investors own 96.10% of the company's stock.

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.