KeyCorp Raises ICU Medical (NASDAQ:ICUI) Price Target to $147.00

ICU Medical (NASDAQ:ICUI) had its target price increased by KeyCorp from $136.00 to $147.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

Several other equities research analysts have also recently commented on ICUI. Raymond James raised their target price on shares of ICU Medical from $135.00 to $158.00 and gave the stock an outperform rating in a research report on Thursday. Needham & Company LLC restated a hold rating on shares of ICU Medical in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, ICU Medical has an average rating of Moderate Buy and an average price target of $138.33.

ICU Medical Trading Up 0.9 %

NASDAQ:ICUI traded up $1.36 during mid-day trading on Thursday, reaching $152.71. 567,547 shares of the company’s stock traded hands, compared to its average volume of 281,822. The company has a 50 day moving average price of $121.24 and a 200-day moving average price of $108.10. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -62.33 and a beta of 0.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.61 and a quick ratio of 1.09. ICU Medical has a 12-month low of $78.28 and a 12-month high of $153.55.

ICU Medical (NASDAQ:ICUI) last posted its earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.56. ICU Medical had a positive return on equity of 5.38% and a negative net margin of 2.63%. 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 earned $1.58 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that ICU Medical will post 3.5 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Elisha W. Finney sold 300 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $104.95, for a total transaction of $31,485.00. Following the sale, the director now owns 2,129 shares of the company’s stock, valued at $223,438.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ICU Medical news, Director Elisha W. Finney sold 300 shares of ICU Medical stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $104.95, for a total transaction of $31,485.00. Following the completion of the transaction, the director now owns 2,129 shares in the company, valued at $223,438.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christian B. Voigtlander sold 12,539 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $103.95, for a total value of $1,303,429.05. The disclosure for this sale can be found here. Insiders sold a total of 14,889 shares of company stock worth $1,630,340 in the last three months. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of ICU Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of ICU Medical by 14.8% in the 4th quarter. Vanguard Group Inc. now owns 2,440,729 shares of the medical instruments supplier’s stock worth $243,438,000 after purchasing an additional 315,103 shares in the last quarter. Norges Bank purchased a new position in ICU Medical in the 4th quarter worth about $20,669,000. The Manufacturers Life Insurance Company raised its position in ICU Medical by 539.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 177,009 shares of the medical instruments supplier’s stock worth $17,655,000 after buying an additional 149,313 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in ICU Medical by 109.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 278,436 shares of the medical instruments supplier’s stock valued at $29,882,000 after acquiring an additional 145,485 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of ICU Medical during the 1st quarter valued at about $15,425,000. 96.10% of the stock is currently owned by institutional investors.

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.