Invesco Ltd. Increases Position in 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. grew its holdings in ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 80.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,827 shares of the medical instruments supplier's stock after purchasing an additional 90,674 shares during the period. Invesco Ltd. owned about 0.83% of ICU Medical worth $28,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ICUI. Quarry LP increased its stake in ICU Medical by 764.3% in the 4th quarter. Quarry LP now owns 242 shares of the medical instruments supplier's stock worth $38,000 after buying an additional 214 shares during the period. Russell Investments Group Ltd. increased its position in shares of ICU Medical by 88.8% during the fourth quarter. Russell Investments Group Ltd. now owns 638 shares of the medical instruments supplier's stock worth $99,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC raised its stake in shares of ICU Medical by 27.2% during the first 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 in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of ICU Medical by 813.5% in the fourth quarter. Sterling Capital Management LLC now owns 676 shares of the medical instruments supplier's stock valued at $105,000 after purchasing an additional 602 shares during the period. Finally, Blue Trust Inc. grew its stake in ICU Medical by 23.0% in the first quarter. Blue Trust Inc. now owns 801 shares of the medical instruments supplier's stock worth $111,000 after purchasing an additional 150 shares in the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at ICU Medical

In other ICU Medical news, CEO Vivek Jain acquired 21,929 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $112.84 per share, for a total transaction of $2,474,468.36. Following the acquisition, the chief executive officer owned 130,149 shares in the company, valued at approximately $14,686,013.16. This trade represents a 20.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $640,572.50. Following the transaction, the chief operating officer directly owned 6,088 shares in the company, valued at $782,308. This represents a 45.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

ICU Medical Stock Up 5.3%

ICU Medical stock traded up $6.43 during trading hours on Friday, reaching $128.18. The stock had a trading volume of 275,297 shares, compared to its average volume of 376,418. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -84.33 and a beta of 0.88. The business's 50 day moving average price is $127.17 and its 200-day moving average price is $137.05. ICU Medical, Inc. has a 52 week low of $107.00 and a 52 week high of $196.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.44 and a quick ratio of 1.17.

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