Bank of New York Mellon Corp Trims Stock Position in ICU Medical, Inc. $ICUI

Key Points

• Bank of New York Mellon cut its ICU Medical stake by 3.5% in the first quarter, selling 6,286 shares and retaining 175,237 shares valued at approximately $22.6 million. Institutional investors collectively own 96.1% of the company.
• Analyst sentiment is broadly positive, with ICU Medical carrying a consensus “Buy” rating and an average price target of $172.00; several firms recently upgraded the stock.
• ICU Medical beat quarterly earnings and revenue estimates, reporting $1.97 in EPS and $525.8 million in revenue, although revenue declined 12.3% year over year. Shares opened at $165.77, near the company’s 52-week high of $167.99.

Bank of New York Mellon Corp lessened its holdings in ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 175,237 shares of the medical instruments supplier's stock after selling 6,286 shares during the period. Bank of New York Mellon Corp owned about 0.70% of ICU Medical worth $22,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC increased its holdings in ICU Medical by 173.4% during the third quarter. Millennium Management LLC now owns 1,089,017 shares of the medical instruments supplier's stock valued at $130,638,000 after buying an additional 690,694 shares during the last quarter. Norges Bank purchased a new stake in shares of ICU Medical in the 4th quarter worth $58,083,000. Thrivent Financial for Lutherans increased its stake in shares of ICU Medical by 1,604.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 303,457 shares of the medical instruments supplier's stock worth $43,294,000 after purchasing an additional 285,648 shares in the last quarter. UBS Group AG raised its holdings in ICU Medical by 239.8% in the 3rd quarter. UBS Group AG now owns 386,555 shares of the medical instruments supplier's stock worth $46,371,000 after purchasing an additional 272,782 shares during the period. Finally, Brown Advisory Inc. bought a new position in ICU Medical in the 4th quarter worth $32,445,000. Hedge funds and other institutional investors own 96.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings raised ICU Medical from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Needham & Company LLC raised ICU Medical from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group upgraded ICU Medical to a "strong-buy" rating in a research note on Thursday, May 7th. Sanford C. Bernstein lowered shares of ICU Medical to a "market perform" rating in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of ICU Medical from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ICU Medical currently has a consensus rating of "Buy" and an average target price of $172.00.

Insider Buying and Selling

In other ICU Medical news, VP Virginia Ruth Sanzone sold 2,447 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $124.08, for a total transaction of $303,623.76. Following the completion of the sale, the vice president directly owned 19,460 shares of the company's stock, valued at $2,414,596.80. This trade represents a 11.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David C. Greenberg sold 2,424 shares of ICU Medical stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $122.91, for a total transaction of $297,933.84. Following the sale, the director owned 7,960 shares in the company, valued at approximately $978,363.60. The trade was a 23.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is currently owned by insiders.

ICU Medical Price Performance

NASDAQ:ICUI opened at $165.77 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 2.34 and a debt-to-equity ratio of 0.60. The business's 50-day simple moving average is $145.82 and its two-hundred day simple moving average is $139.89. The stock has a market cap of $4.14 billion, a PE ratio of 89.61, a P/E/G ratio of 2.26 and a beta of 0.76. ICU Medical, Inc. has a 52 week low of $107.00 and a 52 week high of $167.99.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The medical instruments supplier reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.19. ICU Medical had a return on equity of 7.50% and a net margin of 2.15%.The firm had revenue of $525.77 million during the quarter, compared to analyst estimates of $520.65 million. During the same quarter in the prior year, the company posted $1.72 earnings per share. The business's quarterly revenue was down 12.3% compared to the same quarter last year. ICU Medical has set its FY 2026 guidance at 7.750-8.450 EPS. As a group, analysts forecast that ICU Medical, Inc. will post 6.51 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.

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