ICU Medical, Inc. (NASDAQ:ICUI) Short Interest Down 7.2% in October

ICU Medical, Inc. (NASDAQ:ICUI) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 652,500 shares, a decrease of 7.2% from the October 15th total of 703,400 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average daily volume of 253,400 shares, the days-to-cover ratio is currently 2.6 days.

Insider Activity

In related news, VP Daniel Woolson sold 2,502 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $163.22, for a total value of $408,376.44. Following the completion of the sale, the vice president now directly owns 13,107 shares of the company’s stock, valued at $2,139,324.54. The trade was a 16.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vivek Jain sold 12,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.46, for a total value of $1,961,520.00. Following the completion of the sale, the chief executive officer now directly owns 104,593 shares of the company’s stock, valued at approximately $17,096,771.78. This trade represents a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,502 shares of company stock valued at $6,573,496. 6.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ICUI. Silvercrest Asset Management Group LLC raised its stake in 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 worth $29,882,000 after buying 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 second 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 in the last quarter. Millennium Management LLC boosted its holdings in shares of ICU Medical by 327.8% during the 2nd quarter. Millennium Management LLC now owns 136,070 shares of the medical instruments supplier’s stock valued at $16,158,000 after buying an additional 104,264 shares in the last quarter. FMR LLC increased its stake in shares of ICU Medical by 2,676.6% during the third quarter. FMR LLC now owns 104,094 shares of the medical instruments supplier’s stock valued at $18,968,000 after purchasing an additional 100,345 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in ICU Medical during the second quarter valued at $10,650,000. 96.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on ICUI shares. Jefferies Financial Group assumed coverage on ICU Medical in a report on Monday, October 14th. They set a “hold” rating and a $183.00 price target on the stock. KeyCorp boosted their price objective on ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Raymond James lifted their target price on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Needham & Company LLC reissued a “hold” rating on shares of ICU Medical in a report on Wednesday, November 13th. Finally, StockNews.com cut shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.00.

ICU Medical Trading Down 1.2 %

Shares of ICUI stock traded down $2.08 during mid-day trading on Tuesday, reaching $167.90. The stock had a trading volume of 5,400 shares, compared to its average volume of 274,153. The stock’s 50-day moving average price is $176.52 and its two-hundred day moving average price is $143.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.03. ICU Medical has a 52-week low of $82.82 and a 52-week high of $196.26.

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.