Norges Bank Makes New $40.15 Million Investment in ICU Medical, Inc. (NASDAQ:ICUI)

Norges Bank acquired a new position in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 258,758 shares of the medical instruments supplier's stock, valued at approximately $40,151,000. Norges Bank owned 1.06% of ICU Medical at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in ICU Medical by 15.6% during the 3rd quarter. Barclays PLC now owns 59,207 shares of the medical instruments supplier's stock worth $10,790,000 after acquiring an additional 8,010 shares during the period. Principal Financial Group Inc. increased its stake in shares of ICU Medical by 24.6% in the 3rd quarter. Principal Financial Group Inc. now owns 126,937 shares of the medical instruments supplier's stock valued at $23,130,000 after purchasing an additional 25,031 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ICU Medical by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,682,065 shares of the medical instruments supplier's stock valued at $416,176,000 after purchasing an additional 17,805 shares during the last quarter. Jennison Associates LLC bought a new position in shares of ICU Medical in the 4th quarter valued at $556,000. Finally, Geode Capital Management LLC increased its stake in shares of ICU Medical by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 546,954 shares of the medical instruments supplier's stock valued at $99,687,000 after purchasing an additional 48,106 shares during the last quarter. Institutional investors own 96.10% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ICUI shares. Needham & Company LLC reiterated a "hold" rating on shares of ICU Medical in a research note on Tuesday. Raymond James set a $97.00 price objective on ICU Medical in a report on Wednesday, March 12th. StockNews.com raised ICU Medical from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Finally, Jefferies Financial Group raised ICU Medical from a "hold" rating to a "buy" rating and set a $200.00 target price on the stock in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $168.67.

ICU Medical Stock Down 8.1 %

ICU Medical stock traded down $12.25 during midday trading on Thursday, reaching $138.79. The stock had a trading volume of 33,097 shares, compared to its average volume of 258,613. ICU Medical, Inc. has a 12 month low of $93.36 and a 12 month high of $196.26. The company has a market capitalization of $3.40 billion, a P/E ratio of -30.37 and a beta of 0.86. The company has a fifty day moving average price of $149.07 and a two-hundred day moving average price of $161.45. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

ICU Medical 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.