ICU Medical (NASDAQ:ICUI) Shares Gap Down to $163.96

ICU Medical, Incorporated (NASDAQ:ICUI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $158.92, but opened at $163.96. ICU Medical shares last traded at $168.96, with a volume of 11,200 shares.

Several brokerages have recently commented on ICUI. Zacks Investment Research cut shares of ICU Medical from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. BidaskClub upgraded shares of ICU Medical from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. TheStreet upgraded shares of ICU Medical from a “c+” rating to a “b” rating in a research report on Friday, May 10th. ValuEngine cut shares of ICU Medical from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Raymond James cut shares of ICU Medical from a “strong-buy” rating to an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $290.50.

The stock has a market cap of $3.44 billion, a PE ratio of 21.65 and a beta of 0.81. The stock’s fifty day moving average is $247.21.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.13. The firm had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $315.47 million. ICU Medical had a net margin of 4.04% and a return on equity of 13.70%. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.69 earnings per share. On average, sell-side analysts forecast that ICU Medical, Incorporated will post 8.55 earnings per share for the current fiscal year.

In related news, CFO Scott E. Lamb sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. Following the completion of the transaction, the chief financial officer now owns 34,984 shares in the company, valued at $8,746,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert S. Swinney sold 239 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $248.73, for a total transaction of $59,446.47. Following the transaction, the director now owns 19,662 shares of the company’s stock, valued at approximately $4,890,529.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,931 shares of company stock valued at $9,228,056. Corporate insiders own 11.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan lifted its stake in ICU Medical by 1.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,070 shares of the medical instruments supplier’s stock valued at $773,000 after buying an additional 40 shares in the last quarter. Advisory Services Network LLC lifted its stake in ICU Medical by 70.2% in the second quarter. Advisory Services Network LLC now owns 143 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 59 shares in the last quarter. Huntington National Bank lifted its stake in ICU Medical by 15.3% in the second quarter. Huntington National Bank now owns 474 shares of the medical instruments supplier’s stock valued at $119,000 after buying an additional 63 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ICU Medical by 6.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,118 shares of the medical instruments supplier’s stock valued at $268,000 after buying an additional 68 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in ICU Medical by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,646 shares of the medical instruments supplier’s stock valued at $1,591,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

About ICU Medical (NASDAQ:ICUI)

ICU Medical, Inc develops, manufactures, and sells medical devices used in vascular therapy, critical care, and oncology applications worldwide. It offers infusion therapy products comprising a tube running from a bottle or plastic bag containing a solution to a catheter inserted in a patient's vein.

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