The Manufacturers Life Insurance Company Lowers Stock Position in ICU Medical, Inc. (NASDAQ:ICUI)

The Manufacturers Life Insurance Company cut its holdings in ICU Medical, Inc. (NASDAQ:ICUI) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,759 shares of the medical instruments supplier’s stock after selling 57,512 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.55% of ICU Medical worth $24,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of ICU Medical by 46.4% in the 1st quarter. Russell Investments Group Ltd. now owns 546 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 173 shares in the last quarter. Jane Street Group LLC boosted its holdings in 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 worth $9,643,000 after acquiring an additional 39,839 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of ICU Medical in the first quarter worth $288,000. Boston Partners bought a new position in shares of ICU Medical during the first quarter valued at $790,000. Finally, CWM LLC raised its position in shares of ICU Medical by 18.5% in the 2nd quarter. CWM LLC now owns 767 shares of the medical instruments supplier’s stock worth $91,000 after purchasing an additional 120 shares during the last quarter. 96.10% of the stock is owned by hedge funds and other institutional investors.

ICU Medical Stock Performance

ICUI stock opened at $163.96 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.03. ICU Medical, Inc. has a 1 year low of $83.26 and a 1 year high of $196.26. The company has a market cap of $4.01 billion, a P/E ratio of -35.88 and a beta of 0.66. The stock’s fifty day moving average price is $174.60 and its 200-day moving average price is $147.08.

Analyst Ratings Changes

A number of research firms have weighed in on ICUI. 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, November 13th. StockNews.com upgraded shares of ICU Medical from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research note on Wednesday, November 13th. Raymond James boosted their price target on ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Jefferies Financial Group initiated coverage on ICU Medical in a research report on Monday, October 14th. They set a “hold” rating and a $183.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insiders Place Their Bets

In other news, CEO Vivek Jain sold 12,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $163.46, for a total transaction of $1,961,520.00. Following the completion of the sale, the chief executive officer now owns 104,593 shares of the company’s stock, valued at $17,096,771.78. The trade was a 10.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christian B. Voigtlander sold 1,430 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $158.00, for a total value of $225,940.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,364 shares of company stock valued at $6,876,478. 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.