Point72 Asset Management L.P. Sells 237,726 Shares of ICU Medical, Inc. (NASDAQ:ICUI)

Point72 Asset Management L.P. decreased its holdings in shares of ICU Medical, Inc. (NASDAQ:ICUI) by 45.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,885 shares of the medical instruments supplier’s stock after selling 237,726 shares during the quarter. Point72 Asset Management L.P.’s holdings in ICU Medical were worth $33,474,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Xponance Inc. lifted its holdings in ICU Medical by 6.0% during the 2nd quarter. Xponance Inc. now owns 1,977 shares of the medical instruments supplier’s stock valued at $235,000 after purchasing an additional 112 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of ICU Medical by 8.4% during the second quarter. Public Sector Pension Investment Board now owns 45,054 shares of the medical instruments supplier’s stock worth $5,350,000 after buying an additional 3,484 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of ICU Medical by 4.5% during the second quarter. Sei Investments Co. now owns 29,865 shares of the medical instruments supplier’s stock worth $3,546,000 after buying an additional 1,279 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of ICU Medical during the second quarter worth $71,000. Finally, Granite Investment Partners LLC acquired a new stake in shares of ICU Medical during the second quarter worth $10,650,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

ICU Medical Stock Performance

ICU Medical stock opened at $174.48 on Friday. ICU Medical, Inc. has a 12-month low of $78.28 and a 12-month high of $181.87. The company has a quick ratio of 1.08, a current ratio of 2.41 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $153.73 and its two-hundred day moving average price is $123.35. The stock has a market cap of $4.25 billion, a PE ratio of -71.22 and a beta of 0.65.

ICU Medical (NASDAQ:ICUI) last released its earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.56. ICU Medical had a positive return on equity of 5.01% and a negative net margin of 3.07%. The firm had revenue of $596.50 million for the quarter, compared to analysts’ expectations of $556.64 million. During the same quarter in the previous year, the business posted $1.58 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that ICU Medical, Inc. will post 3.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICUI has been the subject of a number of research reports. KeyCorp lifted their target price on ICU Medical from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. StockNews.com upgraded ICU Medical from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research report on Thursday, August 8th. Finally, Raymond James raised their price target on ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.00.

Insider Transactions at ICU Medical

In other news, CEO Vivek Jain sold 12,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $156.04, for a total transaction of $1,872,480.00. Following the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at $16,320,691.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Vivek Jain sold 12,000 shares of ICU Medical stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $156.04, for a total value of $1,872,480.00. Following the transaction, the chief executive officer now directly owns 104,593 shares of the company’s stock, valued at $16,320,691.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Virginia Ruth Sanzone sold 2,050 shares of ICU Medical stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $144.11, for a total value of $295,425.50. Following the completion of the transaction, the vice president now directly owns 4,482 shares in the company, valued at $645,901.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,552 shares of company stock worth $4,537,802. Insiders own 6.70% 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.