Allspring Global Investments Holdings LLC Trims Stock Holdings in ICU Medical, Inc. (NASDAQ:ICUI)

Allspring Global Investments Holdings LLC lessened its position in shares of ICU Medical, Inc. (NASDAQ:ICUI) by 54.9% during the 4th quarter, Holdings Channel reports. The firm owned 59,543 shares of the medical instruments supplier’s stock after selling 72,498 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ICU Medical were worth $9,407,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of ICUI. State Street Corp increased its stake in shares of ICU Medical by 9.3% in the third quarter. State Street Corp now owns 907,607 shares of the medical instruments supplier’s stock worth $165,384,000 after acquiring an additional 77,506 shares during the period. Geode Capital Management LLC grew its position in ICU Medical by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 546,954 shares of the medical instruments supplier’s stock worth $99,687,000 after purchasing an additional 48,106 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ICU Medical by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 301,107 shares of the medical instruments supplier’s stock valued at $54,868,000 after buying an additional 27,927 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of ICU Medical by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 259,481 shares of the medical instruments supplier’s stock valued at $45,272,000 after buying an additional 3,407 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of ICU Medical by 0.5% in the third quarter. Victory Capital Management Inc. now owns 142,535 shares of the medical instruments supplier’s stock worth $25,973,000 after buying an additional 687 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com raised shares of ICU Medical from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research report on Wednesday, November 13th. KeyCorp lifted their target price on shares of ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group upgraded shares of ICU Medical from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.67.

ICU Medical Price Performance

ICU Medical stock opened at $163.44 on Wednesday. The company’s 50 day simple moving average is $160.91 and its 200-day simple moving average is $165.38. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -35.76 and a beta of 0.63. ICU Medical, Inc. has a 1 year low of $93.36 and a 1 year high of $196.26. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 2.29.

Insider Activity

In other news, Director David C. Greenberg sold 972 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $158.11, for a total value of $153,682.92. Following the completion of the transaction, the director now owns 5,037 shares in the company, valued at approximately $796,400.07. This represents a 16.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vivek Jain sold 12,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $162.91, for a total transaction of $1,954,920.00. Following the completion of the transaction, the chief executive officer now owns 104,593 shares of the company’s stock, valued at approximately $17,039,245.63. The trade was a 10.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,737 shares of company stock valued at $2,879,752. Company insiders own 6.70% of the company’s stock.

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.