Federated Hermes Inc. Sells 2,939 Shares of ICU Medical, Inc. (NASDAQ:ICUI)

Key Points

• Federated Hermes Inc. reduced its stake in ICU Medical by 1.4%, now holding approximately 0.83% of the company, valued at $28.26 million after selling 2,939 shares.
• Insider trading activity included significant sales by directors, with David C. Greenberg selling 1,942 shares and Elisha W. Finney selling 600 shares, indicating decreases in their respective positions.
• ICU Medical's latest earnings report showed earnings per share of $1.72, exceeding analyst estimates by $0.49, and a revenue increase of 6.7% year-over-year.

Federated Hermes Inc. cut its stake in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,528 shares of the medical instruments supplier's stock after selling 2,939 shares during the quarter. Federated Hermes Inc. owned approximately 0.83% of ICU Medical worth $28,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of ICU Medical by 27.2% in the first quarter. GAMMA Investing LLC now owns 716 shares of the medical instruments supplier's stock valued at $99,000 after buying an additional 153 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of ICU Medical in the first quarter valued at about $859,000. Vanguard Group Inc. raised its holdings in shares of ICU Medical by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,682,065 shares of the medical instruments supplier's stock valued at $416,176,000 after purchasing an additional 17,805 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of ICU Medical in the first quarter valued at about $235,000. Finally, Norges Bank purchased a new stake in shares of ICU Medical in the fourth quarter valued at about $40,151,000. 96.10% of the stock is owned by institutional investors.

Insider Activity

In other news, Director David C. Greenberg sold 1,942 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $143.66, for a total value of $278,987.72. Following the completion of the transaction, the director directly owned 6,760 shares in the company, valued at approximately $971,141.60. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Sousa sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $137.36, for a total transaction of $274,720.00. Following the completion of the transaction, the insider owned 479 shares of the company's stock, valued at $65,795.44. This trade represents a 80.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,097 shares of company stock valued at $4,860,156 over the last ninety days. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of ICU Medical in a report on Tuesday, April 8th. KeyCorp lowered their target price on shares of ICU Medical from $209.00 to $191.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded shares of ICU Medical from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, Raymond James Financial decreased their price objective on shares of ICU Medical from $197.00 to $187.00 and set a "strong-buy" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ICU Medical has a consensus rating of "Buy" and an average target price of $192.67.

ICU Medical Stock Performance

NASDAQ ICUI traded down $1.01 during trading hours on Friday, reaching $127.40. 242,242 shares of the company were exchanged, compared to its average volume of 180,698. ICU Medical, Inc. has a 1 year low of $117.92 and a 1 year high of $196.26. The business's 50 day simple moving average is $130.62 and its 200-day simple moving average is $141.57. The company has a quick ratio of 1.52, a current ratio of 2.59 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $3.14 billion, a P/E ratio of -33.26 and a beta of 0.88.

ICU Medical (NASDAQ:ICUI - Get Free Report) last issued its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.49. ICU Medical had a negative net margin of 3.87% and a positive return on equity of 6.75%. The firm had revenue of $599.49 million during the quarter, compared to analyst estimates of $574.15 million. During the same quarter last year, the business earned $0.96 earnings per share. The company's quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts expect that ICU Medical, Inc. will post 4.11 earnings per share for the current year.

ICU Medical 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.