Vident Advisory LLC Purchases New Stake in ICU Medical, Inc. $ICUI

Key Points

• Vident Advisory LLC made a significant investment in ICU Medical, Inc., acquiring 1,942 shares valued at approximately $270,000 in the first quarter of 2023.
• ICU Medical's recent quarterly earnings report exceeded analysts' expectations, with earnings per share of $2.10, beating the consensus estimate of $1.44.
• Analysts have generally upgraded their ratings on ICU Medical, with a consensus rating of "Buy" and an average price target of $179.00.

Vident Advisory LLC acquired a new position in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,942 shares of the medical instruments supplier's stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in ICU Medical by 18.5% during the 1st 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 in the last quarter. Point72 Asset Management L.P. increased its position in ICU Medical by 63.2% during the 4th 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 in the last quarter. Invesco Ltd. increased its position in ICU Medical by 80.1% during the 1st 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. increased its position in ICU Medical by 5.7% during the 1st 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 in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in ICU Medical by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 136,009 shares of the medical instruments supplier's stock valued at $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.

Insiders Place Their Bets

In other news, CEO Vivek Jain acquired 21,929 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $112.84 per share, for a total transaction of $2,474,468.36. Following the completion of the acquisition, the chief executive officer directly owned 130,149 shares in the company, valued at $14,686,013.16. This represents a 20.26% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director David C. Greenberg acquired 1,200 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average price of $126.42 per share, with a total value of $151,704.00. Following the acquisition, the director owned 7,960 shares of the company's stock, valued at approximately $1,006,303.20. This trade represents a 17.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on ICUI shares. Wall Street Zen upgraded ICU Medical from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Piper Sandler boosted their price target on ICU Medical from $145.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 10th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $181.00.

ICU Medical Stock Performance

Shares of NASDAQ ICUI traded up $1.79 during trading on Monday, reaching $132.17. The stock had a trading volume of 269,086 shares, compared to its average volume of 272,881. 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 quick ratio of 1.17 and a current ratio of 2.44. The stock has a market cap of $3.26 billion, a PE ratio of -86.95 and a beta of 0.86. The firm's 50 day moving average price is $126.27 and its two-hundred day moving average price is $133.50.

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

About ICU Medical

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.