Invesco Ltd. Buys 90,674 Shares of ICU Medical, Inc. $ICUI

Key Points

• Invesco Ltd. increased its stake in ICU Medical, Inc. by 80.1%, acquiring an additional 90,674 shares during the first quarter, bringing its total ownership to approximately 0.83% of the company.
• CEO Vivek Jain purchased 21,929 shares at an average price of $112.84 per share, which reflects a 20.26% increase in his ownership of ICU Medical stock.
• ICU Medical recently reported earnings with $2.10 EPS, exceeding expectations, while projecting future earnings guidance of 6.850-7.15 EPS for FY 2025.

Invesco Ltd. increased its stake in ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 80.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,827 shares of the medical instruments supplier's stock after purchasing an additional 90,674 shares during the quarter. Invesco Ltd. owned 0.83% of ICU Medical worth $28,303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ICUI. Quarry LP grew its position in shares of ICU Medical by 764.3% during the 4th quarter. Quarry LP now owns 242 shares of the medical instruments supplier's stock valued at $38,000 after acquiring an additional 214 shares during the period. Russell Investments Group Ltd. grew its position in shares of ICU Medical by 88.8% during the 4th quarter. Russell Investments Group Ltd. now owns 638 shares of the medical instruments supplier's stock valued at $99,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC grew its position in shares of ICU Medical by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 716 shares of the medical instruments supplier's stock valued at $99,000 after acquiring an additional 153 shares during the period. Sterling Capital Management LLC boosted its holdings in ICU Medical by 813.5% in the 4th quarter. Sterling Capital Management LLC now owns 676 shares of the medical instruments supplier's stock worth $105,000 after buying an additional 602 shares during the period. Finally, Blue Trust Inc. boosted its holdings in ICU Medical by 23.0% in the 1st quarter. Blue Trust Inc. now owns 801 shares of the medical instruments supplier's stock worth $111,000 after buying an additional 150 shares during the period. Institutional investors own 96.10% of the company's stock.

ICU Medical Price Performance

ICUI stock traded down $2.37 during mid-day trading on Monday, hitting $125.81. The company had a trading volume of 197,428 shares, compared to its average volume of 384,705. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -82.77 and a beta of 0.88. ICU Medical, Inc. has a 12-month low of $107.00 and a 12-month high of $196.26. The company has a quick ratio of 1.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $127.02 and a 200 day moving average price of $136.52.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James Financial dropped their target price on shares of ICU Medical from $187.00 to $180.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Wall Street Zen downgraded shares of ICU Medical from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Piper Sandler assumed coverage on shares of ICU Medical in a report on Friday, August 15th. They issued an "overweight" rating and a $145.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $179.00.

Insider Activity

In other news, COO Christian B. Voigtlander sold 4,985 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.50, for a total transaction of $640,572.50. Following the sale, the chief operating officer directly owned 6,088 shares in the company, valued at approximately $782,308. This represents a 45.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vivek Jain bought 21,929 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $112.84 per share, for a total transaction of $2,474,468.36. Following the completion of the transaction, the chief executive officer directly owned 130,149 shares in the company, valued at approximately $14,686,013.16. This represents a 20.26% increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

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.