Principal Financial Group Inc. Purchases 25,031 Shares of ICU Medical, Inc. (NASDAQ:ICUI)

Principal Financial Group Inc. lifted its position in ICU Medical, Inc. (NASDAQ:ICUI) by 24.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,937 shares of the medical instruments supplier’s stock after acquiring an additional 25,031 shares during the period. Principal Financial Group Inc.’s holdings in ICU Medical were worth $23,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in ICU Medical by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,452,720 shares of the medical instruments supplier’s stock valued at $263,226,000 after acquiring an additional 11,991 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 valued at $36,996,000 after purchasing an additional 55,588 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of ICU Medical by 109.4% in 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 purchasing an additional 145,485 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of ICU Medical by 11.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 216,509 shares of the medical instruments supplier’s stock worth $25,710,000 after buying an additional 22,310 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in ICU Medical by 9.3% during the 2nd quarter. Federated Hermes Inc. now owns 215,808 shares of the medical instruments supplier’s stock valued at $25,627,000 after buying an additional 18,301 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ICUI. Raymond James boosted their target price on ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. StockNews.com downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp raised their price objective on shares of ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group began coverage on shares of ICU Medical in a research note on Monday, October 14th. They issued a “hold” rating and a $183.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of ICU Medical in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.00.

ICU Medical Price Performance

ICUI opened at $174.81 on Thursday. The company’s 50-day simple moving average is $176.11 and its two-hundred day simple moving average is $141.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 2.41. The stock has a market capitalization of $4.27 billion, a P/E ratio of -38.25 and a beta of 0.66. ICU Medical, Inc. has a 52-week low of $82.82 and a 52-week high of $196.26.

ICU Medical (NASDAQ:ICUI) last issued its earnings results on Tuesday, November 12th. The medical instruments supplier reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.35. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.04%. The company had revenue of $580.07 million for the quarter, compared to analysts’ expectations of $574.77 million. As a group, analysts predict that ICU Medical, Inc. will post 3.81 EPS for the current year.

Insider Transactions at ICU Medical

In other news, CEO Vivek Jain sold 12,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.84, for a total transaction of $2,062,080.00. Following the completion of the sale, the chief executive officer now owns 104,593 shares of the company’s stock, valued at $17,973,261.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.84, for a total value of $2,062,080.00. Following the transaction, the chief executive officer now owns 104,593 shares of the company’s stock, valued at approximately $17,973,261.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Daniel Woolson sold 2,502 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $163.22, for a total transaction of $408,376.44. Following the sale, the vice president now directly owns 13,107 shares of the company’s stock, valued at approximately $2,139,324.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,502 shares of company stock worth $8,445,976 in the last ninety days. Insiders own 6.70% of the company’s stock.

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.