ICU Medical, Inc. (NASDAQ:ICUI) Short Interest Down 10.7% in November

ICU Medical, Inc. (NASDAQ:ICUI) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 582,400 shares, a drop of 10.7% from the October 31st total of 652,500 shares. Based on an average daily trading volume, of 257,300 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.6% of the shares of the company are short sold.

ICU Medical Price Performance

ICUI stock traded down $3.00 during trading on Monday, hitting $160.96. The stock had a trading volume of 233,974 shares, compared to its average volume of 273,983. ICU Medical has a twelve month low of $83.26 and a twelve month high of $196.26. The company’s 50-day moving average price is $174.60 and its two-hundred day moving average price is $147.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.03. The stock has a market capitalization of $3.94 billion, a P/E ratio of -36.42 and a beta of 0.66.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director David C. Greenberg sold 972 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $158.11, for a total value of $153,682.92. Following the sale, the director now owns 5,037 shares in the company, valued at $796,400.07. This represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $162.91, for a total value of $1,954,920.00. Following the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $17,039,245.63. This trade represents a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,364 shares of company stock valued at $8,831,398. 6.70% of the stock is owned by insiders.

Institutional Trading of ICU Medical

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its position in ICU Medical by 162.7% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 122 shares during the last quarter. Allworth Financial LP raised its stake in ICU Medical by 100.0% during the third quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 100 shares during the period. Innealta Capital LLC acquired a new stake in ICU Medical during the second quarter worth $32,000. Venturi Wealth Management LLC grew its holdings in shares of ICU Medical by 1,510.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 302 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in ICU Medical in the third quarter valued at about $72,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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.