Needham & Company LLC Reiterates “Hold” Rating for ICU Medical (NASDAQ:ICUI)

Needham & Company LLC reaffirmed their hold rating on shares of ICU Medical (NASDAQ:ICUI) in a research report released on Wednesday morning,Benzinga reports.

ICUI has been the subject of several other reports. Raymond James lifted their target price on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Jefferies Financial Group assumed coverage on ICU Medical in a research note on Monday, October 14th. They set a “hold” rating and a $183.00 price objective for the company. KeyCorp lifted their price objective on ICU Medical from $147.00 to $198.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, StockNews.com cut ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.00.

ICU Medical Price Performance

Shares of ICU Medical stock traded down $4.10 during midday trading on Wednesday, hitting $167.86. 263,388 shares of the company were exchanged, compared to its average volume of 275,554. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.08. The firm has a market cap of $4.11 billion, a P/E ratio of -36.73 and a beta of 0.66. ICU Medical has a 52 week low of $82.82 and a 52 week high of $196.26. The firm has a 50 day simple moving average of $176.43 and a 200-day simple moving average of $142.68.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings data on Tuesday, November 12th. The medical instruments supplier reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.35. ICU Medical had a positive return on equity of 5.05% and a negative net margin of 4.74%. The firm had revenue of $580.07 million during the quarter, compared to the consensus estimate of $574.77 million. Research analysts forecast that ICU Medical will post 3.81 earnings per share for the current year.

Insider Activity

In related news, CEO Vivek Jain sold 12,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.46, for a total transaction of $2,141,520.00. Following the sale, the chief executive officer now owns 104,593 shares of the company’s stock, valued at $18,665,666.78. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel Woolson sold 2,502 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $163.22, for a total value of $408,376.44. Following the sale, the vice president now owns 13,107 shares of the company’s stock, valued at $2,139,324.54. The trade was a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,502 shares of company stock valued at $6,573,496. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Motco acquired a new stake in ICU Medical during the 1st quarter worth about $29,000. Innealta Capital LLC bought a new position in ICU Medical in the 2nd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its position in ICU Medical by 162.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 122 shares in the last quarter. Allworth Financial LP lifted its position in shares of ICU Medical by 100.0% during the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of ICU Medical by 731.5% during the 1st quarter. EntryPoint Capital LLC now owns 449 shares of the medical instruments supplier’s stock worth $48,000 after buying an additional 395 shares in the last quarter. 96.10% of the stock is owned by institutional investors.

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.