ICU Medical (NASDAQ:ICUI) Shares Gap Up on Insider Buying Activity

ICU Medical, Inc. (NASDAQ:ICUI) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $111.90, but opened at $119.00. ICU Medical shares last traded at $118.60, with a volume of 116,225 shares traded.

Specifically, CEO Vivek Jain purchased 21,929 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $112.84 per share, for a total transaction of $2,474,468.36. Following the purchase, the chief executive officer directly owned 130,149 shares of the company’s stock, valued at approximately $14,686,013.16. This represents a 20.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

ICUI has been the topic of several recent research reports. Piper Sandler initiated coverage on ICU Medical in a research note on Friday. They issued an “overweight” rating and a $145.00 price target on the stock. Wall Street Zen downgraded ICU Medical from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp cut their target price on ICU Medical from $209.00 to $191.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Raymond James Financial cut their target price on ICU Medical from $187.00 to $180.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ICU Medical has an average rating of “Moderate Buy” and an average price target of $179.00.

ICU Medical Trading Up 8.1%

The firm has a 50 day simple moving average of $128.20 and a 200 day simple moving average of $138.42. The company has a current ratio of 2.44, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2.99 billion, a PE ratio of -79.57 and a beta of 0.88.

ICU Medical (NASDAQ:ICUI) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 EPS for the quarter, beating the consensus estimate of $1.44 by $0.66. ICU Medical had a positive return on equity of 7.24% and a negative net margin of 1.56%. The business had revenue of $543.57 million for the quarter, compared to the consensus estimate of $543.33 million. During the same period last year, the business posted $1.56 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that ICU Medical, Inc. will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICU Medical

Several hedge funds and other institutional investors have recently modified their holdings of ICUI. Quarry LP lifted its holdings in shares of ICU Medical by 764.3% during the 4th quarter. Quarry LP now owns 242 shares of the medical instruments supplier’s stock valued at $38,000 after buying an additional 214 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of ICU Medical during the 2nd quarter valued at $38,000. Russell Investments Group Ltd. lifted its holdings in shares of ICU Medical by 88.8% during the 4th quarter. Russell Investments Group Ltd. now owns 638 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 300 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ICU Medical by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 716 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 153 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of ICU Medical by 813.5% during the 4th quarter. Sterling Capital Management LLC now owns 676 shares of the medical instruments supplier’s stock valued at $105,000 after buying an additional 602 shares during the period. 96.10% of the stock is owned by institutional investors.

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.