Granite Investment Partners LLC Makes New $10.65 Million Investment in ICU Medical, Inc. (NASDAQ:ICUI)

Granite Investment Partners LLC purchased a new stake in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 89,687 shares of the medical instruments supplier's stock, valued at approximately $10,650,000. Granite Investment Partners LLC owned about 0.37% of ICU Medical at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of ICU Medical by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,452,720 shares of the medical instruments supplier's stock worth $263,226,000 after purchasing an additional 11,991 shares during the period. Schroder Investment Management Group boosted its position in shares of ICU Medical by 35.8% during the fourth quarter. Schroder Investment Management Group now owns 433,852 shares of the medical instruments supplier's stock worth $43,272,000 after buying an additional 114,344 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of ICU Medical by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 311,542 shares of the medical instruments supplier's stock valued at $36,996,000 after buying an additional 55,588 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of ICU Medical by 109.4% in 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 buying an additional 145,485 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in shares of ICU Medical by 5.8% in the 1st quarter. WCM Investment Management LLC now owns 256,946 shares of the medical instruments supplier's stock valued at $27,575,000 after buying an additional 14,138 shares during the period. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Vivek Jain sold 12,000 shares of ICU Medical stock in a transaction on Friday, August 16th. The shares were sold at an average price of $156.04, for a total transaction of $1,872,480.00. Following the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $16,320,691.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Daniel Woolson sold 2,502 shares of ICU Medical stock in a transaction on Friday, August 30th. The shares were sold at an average price of $163.22, for a total value of $408,376.44. Following the transaction, the vice president now directly owns 13,107 shares of the company's stock, valued at approximately $2,139,324.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vivek Jain sold 12,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 104,593 shares of the company's stock, valued at approximately $16,320,691.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,552 shares of company stock valued at $4,537,802. 6.70% of the stock is owned by corporate insiders.

ICU Medical Stock Down 2.5 %

Shares of ICUI stock traded down $4.53 during trading hours on Friday, reaching $176.74. 1,178,427 shares of the stock were exchanged, compared to its average volume of 283,076. The business's fifty day moving average is $148.87 and its two-hundred day moving average is $120.88. The firm has a market capitalization of $4.31 billion, a P/E ratio of -72.93 and a beta of 0.65. ICU Medical, Inc. has a 12-month low of $78.28 and a 12-month high of $181.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.41 and a quick ratio of 1.08.

ICU Medical (NASDAQ:ICUI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $596.50 million during the quarter, compared to the consensus estimate of $556.64 million. During the same period in the previous year, the business earned $1.58 EPS. ICU Medical's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts expect that ICU Medical, Inc. will post 3.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ICUI. Needham & Company LLC restated a "hold" rating on shares of ICU Medical in a report on Thursday, August 8th. KeyCorp lifted their price objective on shares of ICU Medical from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Raymond James upped their target price on shares of ICU Medical from $158.00 to $190.00 and gave the stock an "outperform" rating in a research note on Thursday, September 12th. Finally, StockNews.com raised shares of ICU Medical from a "hold" rating to a "buy" rating in a research report on Thursday, September 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ICU Medical has a consensus rating of "Moderate Buy" and a consensus price target of $149.00.

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.