Ameriprise Financial Inc. Grows Stock Holdings in ICU Medical, Inc. $ICUI

Key Points

• Ameriprise Financial Inc. has increased its stake in ICU Medical, Inc. by 18.5%, acquiring an additional 108,493 shares to own a total of 693,711 shares valued at approximately $96.3 million.
• ICU Medical reported earnings of $2.10 per share for the last quarter, surpassing analyst expectations of $1.44, despite a 8% decline in revenue from the previous year.
• Analysts have mixed opinions on ICU Medical, with revised price targets, including Raymond James lowering their target from $187 to $180, while Piper Sandler set a new target of $145 with an "overweight" rating.

Ameriprise Financial Inc. raised its position in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 693,711 shares of the medical instruments supplier's stock after acquiring an additional 108,493 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.82% of ICU Medical worth $96,326,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ICUI. Mariner LLC raised its holdings in shares of ICU Medical by 24.4% during the fourth quarter. Mariner LLC now owns 5,009 shares of the medical instruments supplier's stock valued at $777,000 after acquiring an additional 984 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ICU Medical by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 539,981 shares of the medical instruments supplier's stock valued at $83,788,000 after acquiring an additional 82,982 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of ICU Medical by 4.5% during the fourth quarter. MetLife Investment Management LLC now owns 12,946 shares of the medical instruments supplier's stock valued at $2,009,000 after acquiring an additional 557 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of ICU Medical by 87.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,352 shares of the medical instruments supplier's stock valued at $210,000 after acquiring an additional 632 shares during the last quarter. Finally, State of Tennessee Department of Treasury raised its holdings in shares of ICU Medical by 9.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,378 shares of the medical instruments supplier's stock valued at $1,921,000 after acquiring an additional 1,067 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company's stock.

Insider Buying and Selling at ICU Medical

In other news, Director David C. Greenberg purchased 1,200 shares of the stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average cost of $126.42 per share, for a total transaction of $151,704.00. Following the completion of the transaction, the director directly owned 7,960 shares in the company, valued at approximately $1,006,303.20. This represents a 17.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vivek Jain purchased 21,929 shares of the stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $112.84 per share, with a total value of $2,474,468.36. Following the completion of the transaction, the chief executive officer owned 130,149 shares of the company's stock, valued at approximately $14,686,013.16. This trade represents a 20.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

ICUI has been the subject of several recent research reports. Wall Street Zen cut ICU Medical from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler initiated coverage on ICU Medical in a report on Friday, August 15th. They issued an "overweight" rating and a $145.00 price target for the company. Finally, Raymond James Financial cut their price target on ICU Medical from $187.00 to $180.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $179.00.

ICU Medical Trading Up 0.5%

ICUI stock traded up $0.62 during midday trading on Friday, hitting $127.66. 229,495 shares of the company's stock were exchanged, compared to its average volume of 393,301. The business has a 50-day simple moving average of $126.87 and a two-hundred day simple moving average of $135.64. The company has a current ratio of 2.44, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $3.15 billion, a PE ratio of -83.99 and a beta of 0.86. ICU Medical, Inc. has a 1-year low of $107.00 and a 1-year high of $196.26.

ICU Medical (NASDAQ:ICUI - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.66. The company had revenue of $543.57 million during the quarter, compared to analysts' expectations of $543.33 million. ICU Medical had a positive return on equity of 7.24% and a negative net margin of 1.56%.The firm's quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 earnings per share. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. On average, sell-side analysts predict that ICU Medical, Inc. will post 4.11 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.