Point72 Asia Singapore Pte. Ltd. Acquires New Position in ICU Medical, Inc. (NASDAQ:ICUI)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ICU Medical, Inc. (NASDAQ:ICUI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 590 shares of the medical instruments supplier’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also made changes to their positions in ICUI. Vanguard Group Inc. boosted its position in ICU Medical by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,452,720 shares of the medical instruments supplier’s stock worth $263,226,000 after acquiring an additional 11,991 shares during the last quarter. Schroder Investment Management Group boosted its stake in ICU Medical by 35.8% during the 4th quarter. Schroder Investment Management Group now owns 433,852 shares of the medical instruments supplier’s stock valued at $43,272,000 after acquiring an additional 114,344 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ICU Medical by 21.7% during the second quarter. Dimensional Fund Advisors LP now owns 311,542 shares of the medical instruments supplier’s stock worth $36,996,000 after purchasing an additional 55,588 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in ICU Medical by 109.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 278,436 shares of the medical instruments supplier’s stock worth $29,882,000 after buying an additional 145,485 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ICU Medical by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 216,509 shares of the medical instruments supplier’s stock worth $25,710,000 after purchasing an additional 22,310 shares during the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ICUI. Needham & Company LLC reissued a “hold” rating on shares of ICU Medical in a report on Thursday, August 8th. StockNews.com raised shares of ICU Medical from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Raymond James increased their price target on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, KeyCorp lifted their price objective on shares of ICU Medical from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.00.

Insider Transactions at ICU Medical

In related news, VP Virginia Ruth Sanzone sold 2,050 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $144.11, for a total value of $295,425.50. Following the completion of the sale, the vice president now directly owns 4,482 shares in the company, valued at $645,901.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vivek Jain sold 12,000 shares of ICU Medical stock in a transaction that occurred on Friday, August 16th. The shares were 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 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 at the SEC website. Also, VP Virginia Ruth Sanzone sold 2,050 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $144.11, for a total transaction of $295,425.50. Following the completion of the sale, the vice president now owns 4,482 shares of the company’s stock, valued at $645,901.02. The disclosure for this sale can be found here. Insiders have sold a total of 28,552 shares of company stock worth $4,537,802 in the last 90 days. 6.70% of the stock is owned by insiders.

ICU Medical Price Performance

ICUI opened at $174.47 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. ICU Medical, Inc. has a 1 year low of $78.28 and a 1 year high of $181.87. The stock has a fifty day moving average price of $154.77 and a 200 day moving average price of $124.17. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -71.21 and a beta of 0.65.

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

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.