Hsbc Holdings PLC Decreases Holdings in ICU Medical, Inc. (NASDAQ:ICUI)

Hsbc Holdings PLC reduced its position in ICU Medical, Inc. (NASDAQ:ICUI) by 32.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,102 shares of the medical instruments supplier’s stock after selling 3,371 shares during the period. Hsbc Holdings PLC’s holdings in ICU Medical were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in ICU Medical in the second quarter valued at about $32,000. Motco bought a new position in shares of ICU Medical in the 1st quarter worth approximately $29,000. GAMMA Investing LLC boosted its holdings in shares of ICU Medical by 75.1% in the first quarter. GAMMA Investing LLC now owns 310 shares of the medical instruments supplier’s stock worth $33,000 after buying an additional 133 shares during the last quarter. EntryPoint Capital LLC grew its position in ICU Medical by 731.5% during the first quarter. EntryPoint Capital LLC now owns 449 shares of the medical instruments supplier’s stock valued at $48,000 after buying an additional 395 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in ICU Medical by 46.4% during the first quarter. Russell Investments Group Ltd. now owns 546 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 173 shares during the last quarter. Institutional investors own 96.10% of the company’s stock.

Insider Activity

In related 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 value of $1,961,520.00. Following the sale, the chief executive officer now owns 104,593 shares in the company, valued at $17,096,771.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vivek Jain sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.46, for a total transaction of $1,961,520.00. Following the transaction, the chief executive officer now owns 104,593 shares of the company’s stock, valued at approximately $17,096,771.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Daniel Woolson sold 2,502 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 13,107 shares in the company, valued at approximately $2,139,324.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,552 shares of company stock worth $4,537,802. 6.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ICUI shares. KeyCorp boosted their price objective on shares of ICU Medical from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of ICU Medical in a research report on Thursday, August 8th. Raymond James lifted their price objective 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, StockNews.com raised shares of ICU Medical from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.00.

ICU Medical Stock Performance

ICUI opened at $174.47 on Monday. 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 $4.25 billion, a price-to-earnings ratio of -71.21 and a beta of 0.65. The company has a fifty day moving average of $154.77 and a 200 day moving average of $124.17. ICU Medical, Inc. has a fifty-two week low of $78.28 and a fifty-two week high of $181.87.

ICU Medical (NASDAQ:ICUI) last issued its earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that ICU Medical, Inc. will post 3.76 earnings per share for the current fiscal year.

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.