ICU Medical (NASDAQ:ICUI) Price Target Cut to $180.00 by Analysts at Raymond James Financial

Key Points

• Raymond James Financial has lowered its price target for ICU Medical from $187.00 to $180.00, maintaining a "strong-buy" rating which indicates a potential upside of 60.72% from the previous close.
• ICU Medical's stock price fell by 13.8% on Friday, trading at $112.00, with a notable market cap of $2.76 billion.
• Despite challenges, ICU Medical reported quarterly earnings that exceeded expectations, with earnings per share of $2.10, surpassing the consensus estimate of $1.44.

ICU Medical (NASDAQ:ICUI - Get Free Report) had its target price dropped by Raymond James Financial from $187.00 to $180.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the medical instruments supplier's stock. Raymond James Financial's price objective indicates a potential upside of 59.50% from the company's current price.

Other analysts have also issued reports about the stock. Wall Street Zen upgraded shares of ICU Medical from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. KeyCorp cut their target price on shares of ICU Medical from $209.00 to $191.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ICU Medical presently has a consensus rating of "Moderate Buy" and an average price target of $190.33.

ICU Medical Stock Down 13.1%

Shares of ICUI stock traded down $17.06 during trading hours on Friday, reaching $112.85. 1,173,301 shares of the stock were exchanged, compared to its average volume of 264,593. The business's fifty day moving average is $130.06 and its two-hundred day moving average is $140.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.44 and a quick ratio of 1.17. ICU Medical has a 12-month low of $109.00 and a 12-month high of $196.26. The firm has a market capitalization of $2.79 billion, a P/E ratio of -74.24 and a beta of 0.88.

ICU Medical (NASDAQ:ICUI - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share for the quarter, topping 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 firm had revenue of $543.57 million for the quarter, compared to analyst estimates of $543.33 million. During the same period in the prior year, the firm earned $1.56 earnings per share. The business's quarterly revenue was down 8.0% compared to the same quarter last year. As a group, research analysts expect that ICU Medical will post 4.11 EPS for the current fiscal year.

Insider Activity at ICU Medical

In other ICU Medical news, COO Christian B. Voigtlander sold 5,556 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $138.65, for a total value of $770,339.40. Following the transaction, the chief operating officer directly owned 2,389 shares in the company, valued at $331,234.85. This represents a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elisha W. Finney sold 600 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $138.92, for a total transaction of $83,352.00. Following the completion of the transaction, the director owned 3,252 shares in the company, valued at $451,767.84. This represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,097 shares of company stock valued at $4,860,156. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On ICU Medical

Several hedge funds have recently added to or reduced their stakes in ICUI. American Century Companies Inc. boosted its holdings in shares of ICU Medical by 8.4% in the fourth quarter. American Century Companies Inc. now owns 3,101 shares of the medical instruments supplier's stock valued at $481,000 after acquiring an additional 241 shares during the period. LPL Financial LLC grew its position in shares of ICU Medical by 2.0% during the fourth quarter. LPL Financial LLC now owns 4,816 shares of the medical instruments supplier's stock worth $747,000 after acquiring an additional 93 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of ICU Medical during the fourth quarter worth approximately $249,000. Alliancebernstein L.P. grew its position in shares of ICU Medical by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 26,107 shares of the medical instruments supplier's stock worth $4,051,000 after acquiring an additional 136 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of ICU Medical by 65.1% during the fourth quarter. Franklin Resources Inc. now owns 19,333 shares of the medical instruments supplier's stock worth $3,000,000 after acquiring an additional 7,625 shares during the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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.