The Manufacturers Life Insurance Company Acquires 118,789 Shares of ICU Medical, Inc. $ICUI

Key Points

• The Manufacturers Life Insurance Company increased its stake in ICU Medical, Inc. by 992.1% in the first quarter, resulting in ownership of 0.53% of the company, valued at approximately $18.16 million.
• CEO Vivek Jain purchased 21,929 shares of ICU Medical, representing a 20.26% increase in his position, while Director David C. Greenberg acquired 1,200 shares, increasing his stake by 17.75%.
• ICU Medical's stock has a current PE ratio of -83.57, with a one-year low of $107 and high of $196.26, and reported earnings of $2.10 EPS in its latest quarterly results.

The Manufacturers Life Insurance Company boosted its holdings in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 992.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,762 shares of the medical instruments supplier's stock after purchasing an additional 118,789 shares during the period. The Manufacturers Life Insurance Company owned about 0.53% of ICU Medical worth $18,158,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in ICU Medical by 18.5% during the first quarter. Ameriprise Financial Inc. now owns 693,711 shares of the medical instruments supplier's stock worth $96,326,000 after purchasing an additional 108,493 shares during the period. Northern Trust Corp lifted its stake in ICU Medical by 11.1% during the fourth quarter. Northern Trust Corp now owns 402,342 shares of the medical instruments supplier's stock worth $62,431,000 after purchasing an additional 40,187 shares during the period. Point72 Asset Management L.P. lifted its stake in ICU Medical by 63.2% during the fourth quarter. Point72 Asset Management L.P. now owns 245,340 shares of the medical instruments supplier's stock worth $38,069,000 after purchasing an additional 95,030 shares during the period. Invesco Ltd. lifted its stake in 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 during the period. Finally, Victory Capital Management Inc. lifted its stake in ICU Medical by 5.7% during the first quarter. Victory Capital Management Inc. now owns 149,246 shares of the medical instruments supplier's stock worth $20,724,000 after purchasing an additional 8,101 shares during the period. Institutional investors own 96.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ICUI. Piper Sandler began coverage on shares of ICU Medical in a research note on Friday, August 15th. They set an "overweight" rating and a $145.00 price target for the company. Raymond James Financial dropped 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. Finally, Wall Street Zen raised shares of ICU Medical from a "hold" rating to a "buy" rating in a report on Friday. One research 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 company's stock. According to MarketBeat, ICU Medical presently has a consensus rating of "Buy" and an average target price of $179.00.

ICU Medical Price Performance

Shares of NASDAQ ICUI traded down $1.79 during trading on Monday, reaching $129.45. The company had a trading volume of 23,641 shares, compared to its average volume of 266,652. ICU Medical, Inc. has a 52 week low of $107.00 and a 52 week high of $196.26. The stock has a market cap of $3.20 billion, a PE ratio of -84.60 and a beta of 0.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 2.44. The business's 50 day moving average price is $126.51 and its 200-day moving average price is $134.41.

ICU Medical (NASDAQ:ICUI - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share 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 company had revenue of $543.57 million during the quarter, compared to the consensus estimate of $543.33 million. During the same period in the previous year, the firm posted $1.56 earnings per share. The company'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. Analysts expect that ICU Medical, Inc. will post 4.11 earnings per share for the current year.

Insider Transactions at ICU Medical

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