ICU Medical (NASDAQ:ICUI) Announces Earnings Results

ICU Medical (NASDAQ:ICUI) issued its earnings results on Tuesday. The medical instruments supplier reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.35, reports. The company had revenue of $580.07 million during the quarter, compared to the consensus estimate of $574.77 million. ICU Medical had a positive return on equity of 5.04% and a negative net margin of 4.74%. ICU Medical updated its FY24 guidance to $5.40-5.70 EPS and its FY 2024 guidance to 5.400-5.700 EPS.

ICU Medical Stock Down 1.8 %

ICU Medical stock opened at $174.81 on Thursday. ICU Medical has a 52 week low of $82.82 and a 52 week high of $196.26. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -38.25 and a beta of 0.66. The company’s 50-day moving average price is $176.11 and its two-hundred day moving average price is $141.98. The company has a current ratio of 2.41, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76.

Insider Transactions at ICU Medical

In related news, VP Daniel Woolson sold 2,502 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 $2,139,324.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $163.46, for a total transaction of $1,961,520.00. Following the completion of the transaction, the chief executive officer now owns 104,593 shares in the company, valued at approximately $17,096,771.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Daniel Woolson sold 2,502 shares of ICU Medical stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $163.22, for a total transaction of $408,376.44. Following the completion of the transaction, the vice president now directly owns 13,107 shares in the company, valued at $2,139,324.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,502 shares of company stock valued at $8,445,976. Company insiders own 6.70% of the company’s stock.

Institutional Trading of ICU Medical

A number of large investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in shares of ICU Medical by 162.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 122 shares during the last quarter. Allworth Financial LP grew its holdings in shares of ICU Medical by 100.0% in the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of ICU Medical during the second quarter worth $32,000. Motco purchased a new stake in shares of ICU Medical during the first quarter valued at $29,000. Finally, Venturi Wealth Management LLC boosted its position in shares of ICU Medical by 1,510.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 302 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ICUI. StockNews.com lowered ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of ICU Medical in a research report on Monday, October 14th. They issued a “hold” rating and a $183.00 price objective on the stock. 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 report on Thursday, September 12th. Finally, KeyCorp lifted their price target on ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.00.

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.