Piper Sandler Forecasts Strong Price Appreciation for ICU Medical (NASDAQ:ICUI) Stock

ICU Medical (NASDAQ:ICUI) had its target price hoisted by investment analysts at Piper Sandler from $145.00 to $153.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Piper Sandler’s price objective would indicate a potential upside of 13.31% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Raymond James Financial cut their price target 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. Wall Street Zen upgraded shares of ICU Medical from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $181.00.

ICU Medical Trading Up 1.1%

Shares of ICUI opened at $135.03 on Wednesday. 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 $3.33 billion, a P/E ratio of -88.83 and a beta of 0.86. The firm has a 50-day moving average price of $126.33 and a 200 day moving average price of $134.02. ICU Medical has a 12-month low of $107.00 and a 12-month high of $196.26.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.66. The firm had revenue of $543.57 million during the quarter, compared to the consensus estimate of $543.33 million. ICU Medical had a positive return on equity of 7.24% and a negative net margin of 1.56%.The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $1.56 EPS. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. Sell-side analysts forecast that ICU Medical will post 4.11 EPS for the current year.

Insider Activity at ICU Medical

In related news, Director David C. Greenberg purchased 1,200 shares of ICU Medical stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average price of $126.42 per share, with a total value of $151,704.00. Following the completion of the transaction, the director owned 7,960 shares of the company’s stock, valued at approximately $1,006,303.20. This trade represents a 17.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vivek Jain purchased 21,929 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $112.84 per share, with a total value of $2,474,468.36. Following the completion of the acquisition, the chief executive officer directly owned 130,149 shares in the company, valued at approximately $14,686,013.16. This trade represents a 20.26% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. River Road Asset Management LLC grew its stake in shares of ICU Medical by 207.0% in the 2nd quarter. River Road Asset Management LLC now owns 651,492 shares of the medical instruments supplier’s stock worth $83,658,000 after purchasing an additional 439,263 shares during the last quarter. Norges Bank acquired a new position in ICU Medical in the 2nd quarter valued at approximately $36,633,000. William Blair Investment Management LLC acquired a new position in ICU Medical in the second quarter worth approximately $27,928,000. The Manufacturers Life Insurance Company boosted its stake in shares of ICU Medical by 992.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 130,762 shares of the medical instruments supplier’s stock worth $18,158,000 after acquiring an additional 118,789 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in ICU Medical by 850.4% during the 1st quarter. MetLife Investment Management LLC now owns 123,041 shares of the medical instruments supplier’s stock worth $17,085,000 after acquiring an additional 110,095 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

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.