The Manufacturers Life Insurance Company Sells 122,786 Shares of ICU Medical, Inc. (NASDAQ:ICUI)

The Manufacturers Life Insurance Company decreased its holdings in ICU Medical, Inc. (NASDAQ:ICUI) by 91.1% in the fourth quarter, Holdings Channel reports. The fund owned 11,973 shares of the medical instruments supplier’s stock after selling 122,786 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ICU Medical were worth $1,858,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in 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 worth $416,176,000 after acquiring an additional 17,805 shares in the last quarter. JPMorgan Chase & Co. raised its stake in ICU Medical by 7.4% in the fourth quarter. JPMorgan Chase & Co. now owns 708,382 shares of the medical instruments supplier’s stock valued at $109,920,000 after buying an additional 49,108 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ICU Medical by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,981 shares of the medical instruments supplier’s stock valued at $83,788,000 after buying an additional 82,982 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ICU Medical by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,155 shares of the medical instruments supplier’s stock valued at $47,196,000 after buying an additional 3,048 shares during the last quarter. Finally, Norges Bank purchased a new position in ICU Medical during the 4th quarter worth approximately $40,151,000. Institutional investors own 96.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ICUI. StockNews.com cut shares of ICU Medical from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James dropped their target price on ICU Medical from $197.00 to $187.00 and set a “strong-buy” rating for the company in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of ICU Medical in a research note on Tuesday, April 8th. Finally, KeyCorp cut their price objective on ICU Medical from $209.00 to $191.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.67.

ICU Medical Stock Down 3.2%

Shares of NASDAQ:ICUI opened at $138.30 on Monday. The firm’s 50 day moving average price is $140.67 and its 200 day moving average price is $154.99. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -30.26 and a beta of 0.87. ICU Medical, Inc. has a fifty-two week low of $100.91 and a fifty-two week high of $196.26. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.75.

ICU Medical (NASDAQ:ICUI) last posted its quarterly earnings data on Thursday, May 8th. The medical instruments supplier reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.49. The business had revenue of $599.49 million during the quarter, compared to the consensus estimate of $574.15 million. ICU Medical had a positive return on equity of 5.05% and a negative net margin of 4.74%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. As a group, equities research analysts predict that ICU Medical, Inc. will post 4.11 earnings per share for the current fiscal year.

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.