Quadrature Capital Ltd has purchased a new stake in ICU Medical, Inc. (NASDAQ: ICUI), acquiring 6,223 shares valued at approximately $822,000. This investment marks a significant move during the second quarter, according to HoldingsChannel.com. Other institutional investors have also adjusted their positions in the medical instruments supplier, reflecting growing interest in the company.
William Blair Investment Management LLC made headlines by acquiring a new position in ICU Medical valued at around $27.9 million during the same quarter. Additionally, The Manufacturers Life Insurance Company increased its holdings by an impressive 992.1% in the first quarter, now owning 130,762 shares worth $18.2 million after adding 118,789 shares. MetLife Investment Management LLC also showed confidence in the company, boosting its stake by 850.4%, while Ameriprise Financial Inc. grew its holdings by 18.5% during the same period.
Invesco Ltd. rounded out the list of major institutional investors, increasing its stake by 80.1% and holding 203,827 shares valued at $28.3 million after purchasing an additional 90,674 shares. With these changes, it is notable that hedge funds and institutional investors now control approximately 96.10% of ICU Medical’s stock.
Analysts React to ICU Medical’s Performance
A variety of brokerages have recently assessed ICU Medical’s performance. Wall Street Zen downgraded the stock from a “buy” rating to a “hold” rating as of November 15, while Weiss Ratings assigned a “sell (d-)” rating in an earlier report. In contrast, KeyCorp raised its target price from $173.00 to $175.00, maintaining an “overweight” rating. Raymond James Financial decreased its price target from $187.00 to $180.00 but set a “strong-buy” rating for the company, while Piper Sandler increased its target price from $153.00 to $172.00 with an “overweight” rating.
Currently, one investment analyst has rated ICU Medical with a Strong Buy, three have given it a Buy rating, one assigned a Hold rating, and one rated it a Sell. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.75.
Current Market Status and Financial Results
ICU Medical’s stock opened at $146.22 on Tuesday, reflecting a 1.5% decline. The company has a market capitalization of $3.61 billion and a price-to-earnings ratio of -96.20. Its performance metrics also reveal a quick ratio of 1.17, a current ratio of 2.44, and a debt-to-equity ratio of 0.63. The stock has fluctuated within a 52-week range, with a low of $107.00 and a high of $175.51.
ICU Medical recently reported its quarterly earnings on November 6, revealing earnings per share (EPS) of $2.03, surpassing the analyst consensus estimate of $1.43 by $0.60. Despite this positive result, the company reported an 8.9% decline in revenue year-over-year, with total revenue of $533.3 million, compared to the estimated $511.46 million. Looking ahead, ICU Medical has set its fiscal year 2025 guidance at $7.350-7.650 EPS, with analysts predicting $4.11 EPS for the current fiscal year.
In terms of insider activity, Director Elisha W. Finney sold 1,285 shares of ICU Medical stock on November 11, 2023, at an average price of $140.42, totaling $180,439.70. Following this transaction, Finney now owns 3,995 shares valued at $560,977.90. Additionally, VP Virginia Ruth Sanzone sold 930 shares at an average price of $142.34, resulting in a total value of $132,376.20 and a decrease in ownership of 14.56%. Company insiders currently own 1.50% of the company’s stock.
ICU Medical, Inc., along with its subsidiaries, specializes in developing, manufacturing, and selling medical devices for infusion therapy, vascular access, and vital care applications globally, underscoring its pivotal role in the healthcare industry.
