Needham & Company LLC Begins Coverage on ICU Medical (NASDAQ:ICUI)

Investment analysts at Needham & Company LLC began coverage on shares of ICU Medical (NASDAQ:ICUI) in a research note issued to investors on Friday, Briefing.com reports. The brokerage set a “hold” rating on the medical instruments supplier’s stock.

Several other equities analysts have also recently weighed in on the stock. KeyCorp raised their price target on shares of ICU Medical from $134.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Raymond James raised shares of ICU Medical from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.00.

ICU Medical Price Performance

ICUI stock opened at $120.55 on Friday. The stock has a 50-day moving average price of $104.49 and a two-hundred day moving average price of $100.81. ICU Medical has a 1 year low of $78.28 and a 1 year high of $185.63. The stock has a market cap of $2.94 billion, a PE ratio of -49.20 and a beta of 0.73. The company has a current ratio of 2.61, a quick ratio of 1.09 and a debt-to-equity ratio of 0.76.

ICU Medical (NASDAQ:ICUI) last posted its quarterly earnings data on Tuesday, May 7th. The medical instruments supplier reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. ICU Medical had a positive return on equity of 5.38% and a negative net margin of 2.63%. The company had revenue of $566.66 million during the quarter, compared to analysts’ expectations of $553.15 million. Equities analysts forecast that ICU Medical will post 3.5 EPS for the current fiscal year.

Insider Activity

In related news, COO Christian B. Voigtlander sold 12,539 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $103.95, for a total transaction of $1,303,429.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Ben Sousa sold 2,000 shares of ICU Medical stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.55, for a total transaction of $211,100.00. Following the completion of the transaction, the insider now directly owns 1,319 shares in the company, valued at approximately $139,220.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christian B. Voigtlander sold 12,539 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $103.95, for a total value of $1,303,429.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,839 shares of company stock valued at $1,546,014. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On ICU Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners bought a new stake in shares of ICU Medical during the 1st quarter worth about $790,000. Virtu Financial LLC bought a new stake in shares of ICU Medical during the first quarter worth approximately $288,000. Jane Street Group LLC grew its position in shares of ICU Medical by 79.7% in the first quarter. Jane Street Group LLC now owns 89,852 shares of the medical instruments supplier’s stock valued at $9,643,000 after purchasing an additional 39,839 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of ICU Medical by 109.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 278,436 shares of the medical instruments supplier’s stock worth $29,882,000 after purchasing an additional 145,485 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in ICU Medical by 11.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 28,086 shares of the medical instruments supplier’s stock worth $3,014,000 after purchasing an additional 2,936 shares during the last quarter. 96.10% of the stock is owned by 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.