Municipal Employees Retirement System of Michigan Raises Stake in ICU Medical, Inc. (ICUI)

Municipal Employees Retirement System of Michigan increased its position in shares of ICU Medical, Inc. (NASDAQ:ICUI) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,360 shares of the medical instruments supplier’s stock after buying an additional 40 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in ICU Medical were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICUI. Wells Fargo & Company MN raised its position in ICU Medical by 29.3% in the first quarter. Wells Fargo & Company MN now owns 465,840 shares of the medical instruments supplier’s stock worth $71,133,000 after buying an additional 105,570 shares during the period. State Street Corp boosted its stake in ICU Medical by 6.7% in the fourth quarter. State Street Corp now owns 341,748 shares of the medical instruments supplier’s stock worth $50,357,000 after buying an additional 21,335 shares in the last quarter. Norges Bank acquired a new stake in ICU Medical during the fourth quarter worth $18,127,000. Stifel Financial Corp boosted its stake in ICU Medical by 19.4% in the first quarter. Stifel Financial Corp now owns 84,324 shares of the medical instruments supplier’s stock worth $12,871,000 after buying an additional 13,697 shares in the last quarter. Finally, Scout Investments Inc. boosted its stake in ICU Medical by 26.2% in the first quarter. Scout Investments Inc. now owns 53,170 shares of the medical instruments supplier’s stock worth $5,535,000 after buying an additional 11,050 shares in the last quarter. Hedge funds and other institutional investors own 77.95% of the company’s stock.

Institutional Ownership by Quarter for ICU Medical (NASDAQ:ICUI)

Shares of ICU Medical, Inc. (NASDAQ ICUI) opened at 172.20 on Monday. ICU Medical, Inc. has a 1-year low of $103.65 and a 1-year high of $175.73. The firm has a 50-day moving average price of $163.34 and a 200-day moving average price of $151.41. The firm has a market capitalization of $3.41 billion, a PE ratio of 30.61 and a beta of 0.38.

ICU Medical (NASDAQ:ICUI) last released its quarterly earnings data on Wednesday, May 10th. The medical instruments supplier reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $1.23. The business had revenue of $247.74 million during the quarter, compared to the consensus estimate of $237.12 million. ICU Medical had a return on equity of 9.63% and a net margin of 18.76%. The business’s revenue for the quarter was up 175.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. On average, analysts forecast that ICU Medical, Inc. will post $4.14 EPS for the current fiscal year.

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A number of research firms have weighed in on ICUI. Sidoti cut ICU Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 20th. BidaskClub upgraded ICU Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Roth Capital cut ICU Medical from a “buy” rating to a “neutral” rating in a research note on Thursday, May 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded ICU Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. ICU Medical presently has an average rating of “Hold” and an average target price of $142.50.

In other news, VP Alison D. Burcar sold 18,290 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.72, for a total transaction of $2,939,568.80. Following the completion of the sale, the vice president now directly owns 3,727 shares in the company, valued at approximately $599,003.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert S. Swinney sold 594 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $160.92, for a total value of $95,586.48. Following the sale, the director now owns 14,793 shares of the company’s stock, valued at $2,380,489.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,384 shares of company stock valued at $3,766,450. Insiders own 15.90% of the company’s stock.

About ICU Medical

ICU Medical, Inc is engaged in the development, manufacture and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, custom infusion sets, closed system transfer devices (CSTD) for the handling of hazardous drugs, advanced sensor catheters, needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ICUI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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