ICU Medical (NASDAQ:ICUI) Coverage Initiated by Analysts at Piper Sandler

Key Points

• ICU Medical's stock rating was upgraded to a "strong-buy" by Piper Sandler, signaling increased investor confidence.
• The company reported earnings of $2.10 per share, surpassing estimates, but experienced an 8% decline in revenue year-over-year.
• Insider buying activity was notable, with CEO Vivek Jain purchasing over 21,000 shares, increasing his ownership stake by 20.26%.

Stock analysts at Piper Sandler began coverage on shares of ICU Medical (NASDAQ:ICUI - Get Free Report) in a report issued on Friday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $145.00 price target on the medical instruments supplier's stock. Piper Sandler's target price points to a potential upside of 17.40% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of ICU Medical from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. KeyCorp dropped their price target on shares of ICU Medical from $209.00 to $191.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Raymond James Financial reduced their price target on shares of ICU Medical from $187.00 to $180.00 and set a "strong-buy" rating for the company in a 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 stock currently has an average rating of "Buy" and an average target price of $179.00.

ICU Medical Trading Up 0.1%

ICU Medical stock traded up $0.15 during midday trading on Friday, reaching $123.51. The stock had a trading volume of 68,949 shares, compared to its average volume of 267,459. 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 firm has a market cap of $3.05 billion, a price-to-earnings ratio of -81.48 and a beta of 0.88. The company has a fifty day moving average of $127.46 and a 200 day moving average of $137.53. ICU Medical has a 52-week low of $107.00 and a 52-week high of $196.26.

ICU Medical (NASDAQ:ICUI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $2.10 earnings per share (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 business had revenue of $543.57 million during the quarter, compared to analysts' expectations of $543.33 million. During the same quarter last year, the company posted $1.56 earnings per share. The business's quarterly revenue was down 8.0% on a year-over-year basis. ICU Medical has set its FY 2025 guidance at 6.850-7.15 EPS. On average, analysts anticipate that ICU Medical will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vivek Jain bought 21,929 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $112.84 per share, for a total transaction of $2,474,468.36. Following the purchase, the chief executive officer owned 130,149 shares in the company, valued at $14,686,013.16. This trade represents a 20.26% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christian B. Voigtlander sold 4,985 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $128.50, for a total transaction of $640,572.50. Following the completion of the transaction, the chief operating officer owned 6,088 shares of the company's stock, valued at $782,308. This trade represents a 45.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On ICU Medical

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 153 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of ICU Medical during the first quarter worth approximately $859,000. Vontobel Holding Ltd. acquired a new stake in shares of ICU Medical in the first quarter valued at approximately $235,000. Invesco Ltd. raised its position in shares of ICU Medical by 12.4% in the fourth quarter. Invesco Ltd. now owns 113,153 shares of the medical instruments supplier's stock valued at $17,558,000 after buying an additional 12,489 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in ICU Medical by 88.8% during the fourth quarter. Russell Investments Group Ltd. now owns 638 shares of the medical instruments supplier's stock valued at $99,000 after purchasing an additional 300 shares in the last quarter. 96.10% of the stock is currently owned by institutional investors.

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.