The Manufacturers Life Insurance Company Has $18.16 Million Stake in 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 grew its holdings in 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 fund owned 130,762 shares of the medical instruments supplier's stock after buying an additional 118,789 shares during the period. The Manufacturers Life Insurance Company owned 0.53% of ICU Medical worth $18,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ICUI. GAMMA Investing LLC lifted its holdings in ICU Medical by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 716 shares of the medical instruments supplier's stock worth $99,000 after purchasing an additional 153 shares during the last quarter. SG Americas Securities LLC acquired a new stake in ICU Medical during the 1st quarter worth approximately $859,000. Vontobel Holding Ltd. acquired a new stake in ICU Medical during the 1st quarter worth approximately $235,000. Envestnet Asset Management Inc. lifted its holdings 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 worth $2,815,000 after purchasing an additional 1,534 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in ICU Medical by 5.3% during the 1st quarter. Xponance Inc. now owns 1,714 shares of the medical instruments supplier's stock worth $238,000 after purchasing an additional 86 shares during the last quarter. 96.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ICU Medical news, CEO Vivek Jain purchased 21,929 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were bought at an average price 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 in the company, valued at approximately $14,686,013.16. This trade represents a 20.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David C. Greenberg purchased 1,200 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average price of $126.42 per share, for a total transaction of $151,704.00. Following the purchase, 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. 1.50% of the stock is owned by company insiders.

ICU Medical Price Performance

ICU Medical stock opened at $127.02 on Wednesday. The stock's fifty day moving average price is $126.78 and its two-hundred day moving average price is $135.35. ICU Medical, Inc. has a one year low of $107.00 and a one year 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. The firm has a market cap of $3.14 billion, a PE ratio of -83.57 and a beta of 0.86.

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, topping analysts' consensus estimates of $1.44 by $0.66. ICU Medical had a positive return on equity of 7.24% and a negative net margin of 1.56%.The firm had revenue of $543.57 million for the quarter, compared to analyst estimates of $543.33 million. During the same quarter last year, the company earned $1.56 EPS. 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. As a group, research analysts expect that ICU Medical, Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ICUI has been the subject of several research reports. Raymond James Financial dropped their price target on 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 initiated coverage on ICU Medical in a report on Friday, August 15th. They set an "overweight" rating and a $145.00 price target for the company. Finally, Wall Street Zen cut ICU Medical from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $179.00.

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.

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