ICU Medical, Inc. (NASDAQ:ICUI) CEO Vivek Jain Purchases 21,929 Shares

Key Points

• Vivek Jain, CEO of ICU Medical, acquired 21,929 shares of the company's stock for approximately $2.47 million, increasing his total ownership to 130,149 shares.
• ICU Medical reported earnings of $2.10 per share for the last quarter, surpassing estimates and generating revenue of $543.57 million, although revenue fell 8% year-over-year.
• Various institutional investors significantly increased their holdings in ICU Medical, with institutional ownership now at 96.10%.

ICU Medical, Inc. (NASDAQ:ICUI - Get Free Report) CEO Vivek Jain purchased 21,929 shares of the business's stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $112.84 per share, for a total transaction of $2,474,468.36. Following the completion of the transaction, the chief executive officer directly owned 130,149 shares in the company, valued at approximately $14,686,013.16. This represents a 20.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ICU Medical Stock Performance

NASDAQ ICUI traded up $0.82 during trading on Tuesday, hitting $123.78. 32,699 shares of the company's stock traded hands, compared to its average volume of 265,989. 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 capitalization of $3.06 billion, a price-to-earnings ratio of -81.40 and a beta of 0.88. ICU Medical, Inc. has a 12-month low of $107.00 and a 12-month high of $196.26. The business has a 50 day moving average of $127.94 and a 200-day moving average of $137.73.

ICU Medical (NASDAQ:ICUI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.66. ICU Medical had a negative net margin of 1.56% and a positive return on equity of 7.24%. The company had revenue of $543.57 million for the quarter, compared to analysts' expectations of $543.33 million. During the same period in the prior year, the company posted $1.56 EPS. ICU Medical's revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that ICU Medical, Inc. will post 4.11 earnings per share for the current fiscal year.

Institutional Trading of ICU Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. River Road Asset Management LLC raised its position in ICU Medical by 207.0% in the 2nd quarter. River Road Asset Management LLC now owns 651,492 shares of the medical instruments supplier's stock worth $83,658,000 after purchasing an additional 439,263 shares during the period. Norges Bank bought a new stake in shares of ICU Medical during the second quarter valued at approximately $36,633,000. William Blair Investment Management LLC purchased a new stake in shares of ICU Medical in the 2nd quarter worth about $27,928,000. The Manufacturers Life Insurance Company boosted its stake in ICU Medical by 992.1% during the first quarter. The Manufacturers Life Insurance Company now owns 130,762 shares of the medical instruments supplier's stock worth $18,158,000 after acquiring an additional 118,789 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of ICU Medical by 850.4% in the 1st quarter. MetLife Investment Management LLC now owns 123,041 shares of the medical instruments supplier's stock worth $17,085,000 after buying an additional 110,095 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ICUI shares. Piper Sandler began coverage on shares of ICU Medical in a report on Friday. They set an "overweight" rating and a $145.00 target price on the stock. KeyCorp reduced their price target on ICU Medical from $209.00 to $191.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Raymond James Financial reduced their price objective on shares of 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. Finally, Wall Street Zen lowered shares of ICU Medical from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate 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.