ICU Medical, Inc. $ICUI Stock Position Trimmed by Millennium Management LLC

Key Points

• Millennium Management LLC reduced its stake in ICU Medical by 60.9%, owning about $46.68 million worth of shares after selling over 500,000 shares during the first quarter.
• Research analysts have issued varied ratings on ICU Medical, with an average rating of "Buy" and a consensus target price of $179.00, indicating positive sentiment toward the company's stock.
• Insider transactions include Director David C. Greenberg acquiring 1,200 shares and CEO Vivek Jain purchasing 21,929 shares, reflecting confidence in the company's future.

Millennium Management LLC decreased its stake in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 60.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,171 shares of the medical instruments supplier's stock after selling 523,233 shares during the period. Millennium Management LLC owned 1.37% of ICU Medical worth $46,681,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of ICU Medical by 18.5% during the 1st quarter. Ameriprise Financial Inc. now owns 693,711 shares of the medical instruments supplier's stock valued at $96,326,000 after acquiring an additional 108,493 shares in the last quarter. Point72 Asset Management L.P. raised its position in ICU Medical by 63.2% in the fourth quarter. Point72 Asset Management L.P. now owns 245,340 shares of the medical instruments supplier's stock valued at $38,069,000 after purchasing an additional 95,030 shares during the period. Invesco Ltd. lifted its stake in shares of ICU Medical by 80.1% during the first quarter. Invesco Ltd. now owns 203,827 shares of the medical instruments supplier's stock worth $28,303,000 after purchasing an additional 90,674 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ICU Medical by 5.7% in the first quarter. Victory Capital Management Inc. now owns 149,246 shares of the medical instruments supplier's stock worth $20,724,000 after buying an additional 8,101 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of ICU Medical by 3.0% in the first quarter. Principal Financial Group Inc. now owns 136,009 shares of the medical instruments supplier's stock worth $18,886,000 after buying an additional 3,910 shares during the period. Hedge funds and other institutional investors own 96.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ICUI. Raymond James Financial reduced their price target on ICU Medical from $187.00 to $180.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Piper Sandler lifted their price objective on shares of ICU Medical from $145.00 to $153.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of ICU Medical from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $181.00.

Insiders Place Their Bets

In other ICU Medical news, CEO Vivek Jain purchased 21,929 shares of ICU Medical stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $112.84 per share, for a total transaction of $2,474,468.36. Following the transaction, the chief executive officer owned 130,149 shares in the company, valued at $14,686,013.16. This represents a 20.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David C. Greenberg purchased 1,200 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was bought at an average cost of $126.42 per share, for a total transaction of $151,704.00. Following the acquisition, the director owned 7,960 shares in the company, valued at approximately $1,006,303.20. The trade was a 17.75% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company's stock.

ICU Medical Stock Up 1.1%

NASDAQ ICUI traded up $1.46 during trading hours on Thursday, reaching $135.03. 481,873 shares of the company traded hands, compared to its average volume of 300,332. ICU Medical, Inc. has a 12 month low of $107.00 and a 12 month high of $196.26. 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 $3.33 billion, a PE ratio of -88.83 and a beta of 0.86. The company has a 50 day moving average of $126.33 and a two-hundred day moving average of $134.02.

ICU Medical (NASDAQ:ICUI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $2.10 EPS for the quarter, beating 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 period in the prior year, the firm posted $1.56 EPS. The firm's 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. As a group, equities 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.