VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in ICU Medical, Inc. $ICUI

Key Points

• The Virginia Retirement Systems has made a new investment in ICU Medical, Inc. by acquiring 11,533 shares valued at approximately $1.5 million during the second quarter.
• ICU Medical's shares opened at $122.35, with a market capitalization of $3.02 billion and a recent quarterly earnings report showing $2.10 EPS, exceeding analysts' estimates by $0.66.
• Several analysts have adjusted their price targets for ICU Medical, with Raymond James setting a new target at $180.00 and Piper Sandler raising theirs to $153.00, reflecting a generally positive outlook despite mixed ratings.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,533 shares of the medical instruments supplier's stock, valued at approximately $1,524,000.

Several other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in shares of 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 acquiring an additional 108,493 shares during the period. William Blair Investment Management LLC purchased a new position in shares of ICU Medical during the 2nd quarter worth $27,928,000. Invesco Ltd. raised its holdings in shares of 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 acquiring an additional 90,674 shares during the period. Woodline Partners LP raised its holdings in shares of ICU Medical by 31.6% during the 1st quarter. Woodline Partners LP now owns 160,910 shares of the medical instruments supplier's stock worth $22,344,000 after acquiring an additional 38,671 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 8,101 shares during the period. Hedge funds and other institutional investors own 96.10% of the company's stock.

ICU Medical Stock Up 1.1%

Shares of NASDAQ:ICUI opened at $122.35 on Thursday. 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 capitalization of $3.02 billion, a PE ratio of -80.49 and a beta of 0.83. The firm's 50-day moving average is $124.01 and its two-hundred day moving average is $129.65. ICU Medical, Inc. has a 1 year low of $107.00 and a 1 year high of $196.26.

ICU Medical (NASDAQ:ICUI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.66. The company had revenue of $543.57 million for the quarter, compared to analyst estimates of $543.33 million. ICU Medical had a negative net margin of 1.56% and a positive return on equity of 7.24%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. Analysts predict that ICU Medical, Inc. will post 4.11 EPS for the current year.

Insider Transactions at ICU Medical

In other ICU Medical news, Director David C. Greenberg purchased 1,200 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average cost 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 $1,006,303.20. This trade represents a 17.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vivek Jain acquired 21,929 shares of ICU Medical stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $112.84 per share, with a total value of $2,474,468.36. Following the purchase, the chief executive officer owned 130,149 shares of the company's stock, valued at $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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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 report on Friday, August 8th. Piper Sandler boosted their price objective on shares of ICU Medical from $145.00 to $153.00 and gave the company an "overweight" rating in a report on Wednesday, September 10th. KeyCorp reduced their price objective on shares of ICU Medical from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Tuesday. Wall Street Zen upgraded shares of ICU Medical from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ICU Medical in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $176.50.

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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