ICU Medical (NASDAQ:ICUI) Trading Down 6% – Here’s Why

ICU Medical, Inc. (NASDAQ:ICUI)’s stock price dropped 6% during mid-day trading on Tuesday . The stock traded as low as $156.95 and last traded at $157.78. Approximately 155,950 shares were traded during trading, a decline of 43% from the average daily volume of 273,648 shares. The stock had previously closed at $167.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ICUI shares. Jefferies Financial Group started coverage on ICU Medical in a report on Monday, October 14th. They set a “hold” rating and a $183.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a report on Wednesday, November 13th. KeyCorp boosted their price target on shares of ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James increased their price objective on shares of ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, StockNews.com raised ICU Medical from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, ICU Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

ICU Medical Price Performance

The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The stock has a market cap of $3.86 billion, a PE ratio of -34.68 and a beta of 0.66. The business has a 50-day moving average price of $175.98 and a 200 day moving average price of $146.15.

Insider Transactions at ICU Medical

In other news, VP Daniel Woolson sold 2,502 shares of ICU Medical stock in a transaction on Friday, August 30th. The shares were sold at an average price of $163.22, for a total transaction of $408,376.44. Following the completion of the sale, the vice president now directly owns 13,107 shares of the company’s stock, valued at approximately $2,139,324.54. The trade was a 16.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vivek Jain sold 12,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.84, for a total value of $2,062,080.00. Following the completion of the transaction, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $17,973,261.12. This represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,502 shares of company stock valued at $6,573,496. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of ICU Medical

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of ICU Medical by 100.0% in the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Xponance Inc. lifted its stake in ICU Medical by 6.0% in the second quarter. Xponance Inc. now owns 1,977 shares of the medical instruments supplier’s stock worth $235,000 after purchasing an additional 112 shares during the last quarter. Equitable Trust Co. boosted its position in ICU Medical by 2.2% during the third quarter. Equitable Trust Co. now owns 5,213 shares of the medical instruments supplier’s stock valued at $950,000 after buying an additional 112 shares during the period. CWM LLC grew its stake in shares of ICU Medical by 18.5% during the second quarter. CWM LLC now owns 767 shares of the medical instruments supplier’s stock valued at $91,000 after buying an additional 120 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of ICU Medical by 162.7% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 122 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

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.