Wellington Management Group LLP Cuts Position in ICU Medical, Inc. $ICUI

Key Points

• Wellington Management Group LLP reduced its stake in ICU Medical, Inc. by 12.8%, owning approximately 126,740 shares worth $17.6 million after selling 18,634 shares.
• ICU Medical reported earnings of $2.10 per share for the last quarter, surpassing analysts' expectations, although revenues declined by 8% year-over-year.
• CEO Vivek Jain increased his ownership in the company by 20.26%, purchasing 21,929 shares at an average price of $112.84 per share.

Wellington Management Group LLP cut its holdings in ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,740 shares of the medical instruments supplier's stock after selling 18,634 shares during the period. Wellington Management Group LLP owned approximately 0.51% of ICU Medical worth $17,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mariner LLC increased its position in ICU Medical by 24.4% in the 4th quarter. Mariner LLC now owns 5,009 shares of the medical instruments supplier's stock valued at $777,000 after buying an additional 984 shares in the last quarter. Dimensional Fund Advisors LP increased its position in ICU Medical by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 539,981 shares of the medical instruments supplier's stock valued at $83,788,000 after buying an additional 82,982 shares in the last quarter. MetLife Investment Management LLC increased its position in ICU Medical by 4.5% in the 4th quarter. MetLife Investment Management LLC now owns 12,946 shares of the medical instruments supplier's stock valued at $2,009,000 after buying an additional 557 shares in the last quarter. Tower Research Capital LLC TRC increased its position in ICU Medical by 87.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,352 shares of the medical instruments supplier's stock valued at $210,000 after buying an additional 632 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its position in ICU Medical by 9.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,378 shares of the medical instruments supplier's stock valued at $1,921,000 after buying an additional 1,067 shares in the last quarter. 96.10% of the stock is owned by institutional investors.

Insider Transactions at ICU Medical

In related news, Director David C. Greenberg purchased 1,200 shares of the business's stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vivek Jain purchased 21,929 shares of the business's stock in a transaction on Thursday, August 14th. The shares were bought 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 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. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICUI. Piper Sandler began coverage on ICU Medical in a research report on Friday, August 15th. They issued an "overweight" rating and a $145.00 target price for the company. Wall Street Zen lowered ICU Medical from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial decreased their target price on ICU Medical from $187.00 to $180.00 and set a "strong-buy" rating for the company in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $179.00.

ICU Medical Stock Up 0.5%

ICUI stock traded up $0.62 during mid-day trading on Monday, reaching $127.66. 229,495 shares of the company traded hands, compared to its average volume of 393,301. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -83.99 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, Inc. has a fifty-two week low of $107.00 and a fifty-two week high of $196.26. The firm's 50 day moving average price is $126.86 and its 200 day moving average price is $135.41.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.66. The business 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 company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 EPS. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. As a group, equities research analysts predict that ICU Medical, Inc. will post 4.11 EPS for the current fiscal year.

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.