Citigroup Inc. Raises Stock Holdings in ICU Medical, Inc. (NASDAQ:ICUI)

Citigroup Inc. grew its holdings in shares of ICU Medical, Inc. (NASDAQ:ICUI) by 220.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,806 shares of the medical instruments supplier’s stock after buying an additional 71,435 shares during the quarter. Citigroup Inc.’s holdings in ICU Medical were worth $14,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICUI. GAMMA Investing LLC raised its stake in ICU Medical by 27.2% during the first quarter. GAMMA Investing LLC now owns 716 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 153 shares during the period. SG Americas Securities LLC acquired a new stake in shares of ICU Medical during the 1st quarter worth approximately $859,000. Vontobel Holding Ltd. bought a new stake in shares of ICU Medical in the 1st quarter worth approximately $235,000. Invesco Ltd. lifted its holdings in shares of ICU Medical by 12.4% in the 4th quarter. Invesco Ltd. now owns 113,153 shares of the medical instruments supplier’s stock worth $17,558,000 after purchasing an additional 12,489 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in 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 purchasing an additional 300 shares during the period. Institutional investors own 96.10% of the company’s stock.

Insider Buying and Selling at ICU Medical

In related news, Director Elisha W. Finney sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $138.92, for a total transaction of $83,352.00. Following the transaction, the director owned 3,252 shares of the company’s stock, valued at approximately $451,767.84. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christian B. Voigtlander sold 5,555 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $138.00, for a total transaction of $766,590.00. Following the transaction, the chief operating officer owned 2,389 shares in the company, valued at approximately $329,682. This trade represents a 69.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,044 shares of company stock worth $2,783,128 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Raymond James Financial dropped their target price on ICU Medical from $187.00 to $180.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 8th. KeyCorp dropped their price objective on shares of ICU Medical from $209.00 to $191.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen lowered shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ICU Medical has an average rating of “Moderate Buy” and an average price target of $190.33.

ICU Medical Stock Performance

ICU Medical stock opened at $111.90 on Friday. ICU Medical, Inc. has a fifty-two week low of $107.00 and a fifty-two week high of $196.26. The firm’s 50 day simple moving average is $128.45 and its 200-day simple moving average is $138.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.44 and a quick ratio of 1.17. The company has a market cap of $2.76 billion, a P/E ratio of -73.62 and a beta of 0.88.

ICU Medical (NASDAQ:ICUI) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.66. The firm had revenue of $543.57 million for the quarter, compared to analyst estimates of $543.33 million. ICU Medical had a positive return on equity of 7.24% and a negative net margin of 1.56%. ICU Medical’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 earnings per share. As a group, equities research analysts predict that ICU Medical, Inc. will post 4.11 EPS for the current year.

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.