Nitorum Capital L.P. Decreases Stock Position in ICU Medical, Inc. $ICUI

Key Points

• Nitorum Capital L.P. reduced its stake in ICU Medical by 12.6%, selling 25,144 shares and holding 174,901 shares, which now makes up approximately 3.4% of its portfolio.
• ICU Medical's most recent earnings report showed that earnings per share were $2.10, exceeding analyst expectations of $1.44, despite an 8% decline in quarterly revenue year-over-year.
• Wall Street analysts have mixed ratings on ICU Medical, with current consensus showing an average rating of "Buy" and a target price of $179.00.

Nitorum Capital L.P. reduced its position in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,901 shares of the medical instruments supplier's stock after selling 25,144 shares during the period. ICU Medical accounts for approximately 3.4% of Nitorum Capital L.P.'s portfolio, making the stock its 11th largest position. Nitorum Capital L.P. owned 0.71% of ICU Medical worth $24,287,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ICU Medical by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,764 shares of the medical instruments supplier's stock worth $1,772,000 after purchasing an additional 560 shares during the period. AQR Capital Management LLC raised its stake in ICU Medical by 2.5% in the first quarter. AQR Capital Management LLC now owns 9,360 shares of the medical instruments supplier's stock worth $1,297,000 after buying an additional 229 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in ICU Medical in the first quarter worth about $479,000. Caption Management LLC purchased a new stake in ICU Medical in the first quarter worth about $1,737,000. Finally, Nomura Holdings Inc. purchased a new stake in ICU Medical in the first quarter worth about $1,493,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ICU Medical

In other ICU Medical news, CEO Vivek Jain bought 21,929 shares of the 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 completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David C. Greenberg bought 1,200 shares of the 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 acquisition, the director directly owned 7,960 shares of the company's stock, 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. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James Financial lowered their price objective 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. 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 price objective for the company. Finally, Wall Street Zen upgraded shares of ICU Medical from a "hold" rating to a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, ICU Medical presently has a consensus rating of "Buy" and a consensus target price of $179.00.

ICU Medical Stock Up 4.5%

Shares of ICUI stock traded up $5.61 during trading hours on Friday, hitting $131.24. 280,702 shares of the company's stock traded hands, compared to its average volume of 331,596. The stock's fifty day simple moving average is $126.51 and its two-hundred day simple moving average is $134.41. ICU Medical, Inc. has a 12-month low of $107.00 and a 12-month high of $196.26. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -86.34 and a beta of 0.86. The company has a quick ratio of 1.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.63.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $543.33 million. During the same period last year, the business earned $1.56 earnings per share. The business's revenue was down 8.0% on a year-over-year basis. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. On average, analysts expect that ICU Medical, Inc. will post 4.11 EPS 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.