Victory Capital Management Inc. Increases Stock Position in ICU Medical, Inc. (NASDAQ:ICUI)

Victory Capital Management Inc. lifted its position in ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 2,966.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,848 shares of the medical instruments supplier's stock after purchasing an additional 137,222 shares during the period. Victory Capital Management Inc. owned about 0.58% of ICU Medical worth $16,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ICU Medical by 14.8% in the 4th quarter. Vanguard Group Inc. now owns 2,440,729 shares of the medical instruments supplier's stock worth $243,438,000 after purchasing an additional 315,103 shares during the period. Norges Bank bought a new position in shares of ICU Medical during the fourth quarter worth $20,669,000. The Manufacturers Life Insurance Company boosted its position in shares of ICU Medical by 539.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 177,009 shares of the medical instruments supplier's stock worth $17,655,000 after acquiring an additional 149,313 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake 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 acquiring an additional 145,485 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new stake in ICU Medical in the 1st quarter valued at $15,425,000. 96.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Vivek Jain sold 12,000 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $156.04, for a total transaction of $1,872,480.00. Following the completion of the sale, the chief executive officer now directly owns 104,593 shares of the company's stock, valued at approximately $16,320,691.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Vivek Jain sold 12,000 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $156.04, for a total value of $1,872,480.00. Following the transaction, the chief executive officer now owns 104,593 shares of the company's stock, valued at approximately $16,320,691.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $408,376.44. Following the sale, the vice president now owns 13,107 shares of the company's stock, valued at approximately $2,139,324.54. The disclosure for this sale can be found here. Insiders have sold 28,552 shares of company stock valued at $4,537,802 in the last ninety days. 6.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ICUI. Raymond James increased their price objective on shares of ICU Medical from $158.00 to $190.00 and gave the company an "outperform" rating in a report on Thursday. KeyCorp increased their price target on ICU Medical from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of ICU Medical in a research note on Thursday, August 8th. Finally, StockNews.com raised ICU Medical from a "hold" rating to a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $149.00.

ICU Medical Trading Up 2.8 %

ICUI traded up $4.82 on Friday, hitting $179.00. The company had a trading volume of 340,431 shares, compared to its average volume of 278,591. ICU Medical, Inc. has a 12-month low of $78.28 and a 12-month high of $180.88. 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 business's fifty day simple moving average is $143.26 and its 200 day simple moving average is $118.43. The company has a market cap of $4.37 billion, a PE ratio of -71.09 and a beta of 0.65.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.56. ICU Medical had a positive return on equity of 5.01% and a negative net margin of 3.07%. The firm had revenue of $596.50 million for the quarter, compared to the consensus estimate of $556.64 million. During the same quarter in the previous year, the company posted $1.58 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that ICU Medical, Inc. will post 3.76 EPS for the current year.

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.