Woodline Partners LP Has $22.34 Million Stock Position in ICU Medical, Inc. $ICUI

Key Points

• Woodline Partners LP increased its holdings in ICU Medical by 31.6%, now owning approximately 0.65% of the company, valued at $22.34 million.
• ICU Medical recently reported $2.10 EPS for the quarter, exceeding expectations of $1.44, despite a year-over-year revenue decline of 8%.
• Research firms have upgraded ICU Medical's stock ratings, with Wall Street Zen upgrading to a "buy" rating and Piper Sandler setting a price target of $145.00.

Woodline Partners LP boosted its position in shares of ICU Medical, Inc. (NASDAQ:ICUI - Free Report) by 31.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 160,910 shares of the medical instruments supplier's stock after buying an additional 38,671 shares during the quarter. Woodline Partners LP owned approximately 0.65% of ICU Medical worth $22,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 valued at $99,000 after buying an additional 153 shares during the last quarter. Blue Trust Inc. increased its position in ICU Medical by 23.0% during the 1st quarter. Blue Trust Inc. now owns 801 shares of the medical instruments supplier's stock valued at $111,000 after purchasing an additional 150 shares during the period. United Services Automobile Association purchased a new position in ICU Medical during the 1st quarter valued at $218,000. Vontobel Holding Ltd. purchased a new stake in shares of ICU Medical in the 1st quarter worth about $235,000. Finally, Xponance Inc. grew its position in shares of ICU Medical by 5.3% in the 1st quarter. Xponance Inc. now owns 1,714 shares of the medical instruments supplier's stock worth $238,000 after buying an additional 86 shares during the period. 96.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ICU Medical news, CEO Vivek Jain bought 21,929 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $112.84 per share, for a total transaction of $2,474,468.36. Following the completion of the purchase, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David C. Greenberg bought 1,200 shares of the stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average price of $126.42 per share, with a total value of $151,704.00. Following the completion of the purchase, the director owned 7,960 shares of the company's stock, valued at $1,006,303.20. This represents a 17.75% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

ICUI has been the topic of a number of recent research reports. Raymond James Financial reduced their target price on shares of 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. Wall Street Zen upgraded shares of ICU Medical from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Piper Sandler upped their price target on shares of ICU Medical from $145.00 to $153.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 10th. 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's stock. According to MarketBeat, ICU Medical currently has a consensus rating of "Buy" and an average target price of $181.00.

ICU Medical Price Performance

ICU Medical stock traded up $1.51 during mid-day trading on Monday, hitting $131.89. 76,259 shares of the company were exchanged, compared to its average volume of 267,671. The company has a quick ratio of 1.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $126.23 and a 200 day moving average of $133.60. ICU Medical, Inc. has a 1-year low of $107.00 and a 1-year high of $196.26. The company has a market capitalization of $3.26 billion, a PE ratio of -86.60 and a beta of 0.86.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $543.33 million. During the same period in the prior year, the company posted $1.56 earnings per share. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. As a group, sell-side analysts expect that ICU Medical, Inc. will post 4.11 earnings per share for the current 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.