ICU Medical, Inc. (NASDAQ:ICUI) Sees Large Decline in Short Interest

ICU Medical, Inc. (NASDAQ:ICUI) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 756,400 shares, a decline of 9.0% from the September 15th total of 831,100 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average trading volume of 298,300 shares, the days-to-cover ratio is presently 2.5 days.

Insider Buying and Selling at ICU Medical

In related news, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.46, for a total value of $2,141,520.00. Following the transaction, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $18,665,666.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Vivek Jain sold 12,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $178.46, for a total value of $2,141,520.00. Following the completion of the transaction, the chief executive officer now owns 104,593 shares of the company’s stock, valued at $18,665,666.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daniel Woolson sold 2,502 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $163.22, for a total value of $408,376.44. Following the transaction, the vice president now owns 13,107 shares of the company’s stock, valued at $2,139,324.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,552 shares of company stock worth $6,679,322 over the last ninety days. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ICU Medical

Several institutional investors have recently added to or reduced their stakes in ICUI. Scout Investments Inc. grew its stake in shares of ICU Medical by 16.3% in the first quarter. Scout Investments Inc. now owns 51,819 shares of the medical instruments supplier’s stock worth $5,463,000 after acquiring an additional 7,272 shares during the period. Wakefield Asset Management LLLP bought a new stake in shares of ICU Medical in the first quarter worth about $989,000. Vanguard Group Inc. raised its holdings in shares of ICU Medical by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 2,440,729 shares of the medical instruments supplier’s stock worth $243,438,000 after acquiring an additional 315,103 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of ICU Medical by 441.7% in the 2nd quarter. SG Americas Securities LLC now owns 5,818 shares of the medical instruments supplier’s stock worth $691,000 after buying an additional 4,744 shares during the last quarter. Finally, Sei Investments Co. raised its position in ICU Medical by 52.1% during the first quarter. Sei Investments Co. now owns 28,586 shares of the medical instruments supplier’s stock valued at $3,068,000 after purchasing an additional 9,793 shares during the period. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ICUI shares. KeyCorp upped their price objective on ICU Medical from $147.00 to $198.00 and gave the stock an “overweight” rating in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research report on Thursday, October 10th. Raymond James increased their price target on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Jefferies Financial Group began coverage on shares of ICU Medical in a research report on Monday. They set a “hold” rating and a $183.00 target price on the stock. Finally, StockNews.com upgraded ICU Medical from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ICU Medical currently has an average rating of “Moderate Buy” and a consensus price target of $170.25.

ICU Medical Stock Up 2.4 %

Shares of NASDAQ ICUI traded up $4.33 during trading on Wednesday, hitting $183.83. The stock had a trading volume of 166,184 shares, compared to its average volume of 281,082. The firm has a fifty day moving average of $168.94 and a two-hundred day moving average of $131.20. The company has a market capitalization of $4.48 billion, a PE ratio of -75.03 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.41 and a quick ratio of 1.08. ICU Medical has a 12 month low of $78.28 and a 12 month high of $188.53.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.56. ICU Medical had a positive return on equity of 5.01% and a negative net margin of 3.07%. The firm had revenue of $596.50 million for the quarter, compared to analysts’ expectations of $556.64 million. During the same quarter in the prior year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that ICU Medical will post 3.76 EPS for the current fiscal 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.