ICU Medical (NASDAQ:ICUI) Shares Gap Up After Insider Buying Activity

Key Points

• ICU Medical's shares experienced a significant gap up from $111.90 to $119.00 following a notable insider purchase by CEO Vivek Jain of 21,929 shares at an average price of $112.84.
• Analysts have revised ICU Medical's stock ratings, with Wall Street Zen downgrading it to a "hold," while Piper Sandler initiated coverage with an "overweight" rating and a target price of $145.00.
• The company's latest earnings report showed an EPS of $2.10, exceeding expectations by $0.66, although revenue dropped 8% year-over-year to $543.57 million.

ICU Medical, Inc. (NASDAQ:ICUI - Get Free Report)'s share price gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $111.90, but opened at $119.00. ICU Medical shares last traded at $118.60, with a volume of 116,225 shares changing hands.

Specifically, CEO Vivek Jain bought 21,929 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was bought at an average price 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 of the company's stock, valued at approximately $14,686,013.16. The trade was a 20.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of ICU Medical from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial dropped 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, Piper Sandler assumed coverage on shares of ICU Medical in a research report on Friday, August 15th. They issued an "overweight" rating and a $145.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $179.00.

ICU Medical Stock Down 0.3%

The business's fifty day simple moving average is $127.68 and its 200 day simple moving average is $137.63. The company has a current ratio of 2.44, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -81.16 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 EPS 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 during the quarter, compared to analyst estimates of $543.33 million. During the same quarter in the previous year, the business earned $1.56 EPS. The business's quarterly revenue 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. Equities analysts forecast that ICU Medical, Inc. will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICU Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its holdings in shares of ICU Medical by 764.3% in the 4th quarter. Quarry LP now owns 242 shares of the medical instruments supplier's stock valued at $38,000 after buying an additional 214 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of ICU Medical in the 2nd quarter valued at $38,000. Russell Investments Group Ltd. grew its holdings in shares of ICU Medical by 88.8% in the 4th quarter. Russell Investments Group Ltd. now owns 638 shares of the medical instruments supplier's stock valued at $99,000 after buying an additional 300 shares during the period. Sterling Capital Management LLC grew its holdings in shares of ICU Medical by 813.5% in the 4th quarter. Sterling Capital Management LLC now owns 676 shares of the medical instruments supplier's stock valued at $105,000 after buying an additional 602 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of ICU Medical by 27.2% in 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 period. Institutional investors and hedge funds own 96.10% of the company's stock.

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.