Millennium Management LLC Sells 523,233 Shares of ICU Medical, Inc. $ICUI

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 cut its holdings in ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 60.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ICUI. GAMMA Investing LLC raised 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 buying an additional 153 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of ICU Medical during the 1st quarter valued at about $859,000. Vontobel Holding Ltd. bought a new stake in shares of ICU Medical during the 1st quarter valued at about $235,000. EP Wealth Advisors LLC bought a new stake in shares of ICU Medical during the 1st quarter valued at about $479,000. Finally, Envestnet Asset Management Inc. lifted its position in ICU Medical by 8.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 20,269 shares of the medical instruments supplier's stock valued at $2,815,000 after acquiring an additional 1,534 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

ICU Medical Price Performance

Shares of ICUI stock traded down $4.65 during mid-day trading on Friday, hitting $130.38. The company had a trading volume of 240,362 shares, compared to its average volume of 272,881. ICU Medical, Inc. has a 52-week low of $107.00 and a 52-week high of $196.26. The stock's 50 day moving average price is $126.23 and its 200-day moving average price is $133.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.44 and a quick ratio of 1.17. The company has a market capitalization of $3.22 billion, a P/E ratio of -85.78 and a beta of 0.86.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its 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 firm had revenue of $543.57 million for the quarter, compared to the consensus estimate of $543.33 million. ICU Medical had a negative net margin of 1.56% and a positive return on equity of 7.24%. The company's quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 earnings per share. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. Equities research analysts forecast that ICU Medical, Inc. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ICUI. Wall Street Zen raised shares of ICU Medical from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Piper Sandler boosted their target price on shares of ICU Medical from $145.00 to $153.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Raymond James Financial cut 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 research report on Friday, August 8th. One equities 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 data from MarketBeat.com, ICU Medical has an average rating of "Buy" and an average price target of $181.00.

Insider Buying and Selling at ICU Medical

In other news, Director David C. Greenberg bought 1,200 shares of ICU Medical stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average price of $126.42 per share, with a total value of $151,704.00. Following the completion of the purchase, the director owned 7,960 shares in the company, valued at $1,006,303.20. The trade was a 17.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vivek Jain bought 21,929 shares of ICU Medical stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $112.84 per share, for a total transaction of $2,474,468.36. Following the purchase, the chief executive officer owned 130,149 shares of the company's stock, valued at approximately $14,686,013.16. This trade represents a 20.26% 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 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.