ICU Medical Inc. (NASDAQ:ICUI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $141.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.60% from the stock’s previous close.
According to Zacks, “ICU Medical, Inc., together with its wholly-owned subsidiary Budget Medical Products, Inc. is a leader in the development, manufacture and sale of proprietary, disposable medical connection systems for use in intravenous therapy applications. The company’s intravenous connectors are designed to prevent accidental disconnection’s of intravenous lines and to protect healthcare workers and their patients from the spread of infectious diseases such as Hepatitis B and Human Immunodeficiency Virus by significantly reducing the risk of accidental needlesticks. “
Separately, Piper Jaffray Cos. reiterated a “neutral” rating and set a $119.00 target price (up previously from $115.00) on shares of ICU Medical in a research report on Thursday, August 11th.
ICU Medical (NASDAQ:ICUI) opened at 126.34 on Wednesday. ICU Medical has a 52-week low of $85.56 and a 52-week high of $128.93. The firm has a market capitalization of $2.04 billion, a PE ratio of 37.62 and a beta of 0.49. The company’s 50-day moving average is $123.86 and its 200-day moving average is $109.75.
ICU Medical (NASDAQ:ICUI) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. ICU Medical had a net margin of 14.94% and a return on equity of 10.33%. The business earned $96.70 million during the quarter, compared to the consensus estimate of $89.66 million. During the same quarter last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts forecast that ICU Medical will post $4.54 EPS for the current fiscal year.
In related news, VP Thomas D. Mccall sold 2,071 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $126.07, for a total transaction of $261,090.97. Following the completion of the transaction, the vice president now owns 2,129 shares of the company’s stock, valued at $268,403.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Steven Riggs sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the transaction, the vice president now directly owns 21,378 shares of the company’s stock, valued at approximately $2,351,580. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in shares of ICU Medical during the second quarter valued at approximately $124,000. Bank of Montreal Can bought a new position in ICU Medical during the second quarter worth approximately $133,000. PineBridge Investments L.P. boosted its position in ICU Medical by 3.6% in the second quarter. PineBridge Investments L.P. now owns 1,835 shares of the company’s stock worth $207,000 after buying an additional 63 shares in the last quarter. Amalgamated Bank bought a new position in ICU Medical during the second quarter worth approximately $214,000. Finally, M&T Bank Corp boosted its position in ICU Medical by 3.3% in the first quarter. M&T Bank Corp now owns 2,117 shares of the company’s stock worth $220,000 after buying an additional 67 shares in the last quarter. 89.50% of the stock is owned by institutional investors.
ICU Medical Company Profile
ICU Medical, Inc is engaged in the development, manufacturing and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, closed system transfer devices (CSTD), needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ICU Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICU Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.