ICU Medical (NASDAQ:ICUI) Posts Earnings Results, Beats Expectations By $0.35 EPS

ICU Medical (NASDAQ:ICUI) issued its quarterly earnings results on Tuesday. The medical instruments supplier reported $1.23 EPS for the quarter, beating the consensus estimate of $0.88 by $0.35, reports. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.04%. The business had revenue of $580.07 million during the quarter, compared to the consensus estimate of $574.77 million. ICU Medical updated its FY24 guidance to $5.40-5.70 EPS and its FY 2024 guidance to 5.400-5.700 EPS.

ICU Medical Price Performance

ICUI opened at $174.81 on Thursday. The stock has a fifty day moving average price of $176.11 and a 200 day moving average price of $141.98. The company has a current ratio of 2.41, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. ICU Medical has a 1 year low of $82.82 and a 1 year high of $196.26. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -38.25 and a beta of 0.66.

Insiders Place Their Bets

In other news, CEO Vivek Jain sold 12,000 shares of ICU Medical stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $156.04, for a total transaction of $1,872,480.00. Following the completion of the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at $16,320,691.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Daniel Woolson sold 2,502 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $163.22, for a total value of $408,376.44. Following the completion of the sale, the vice president now directly owns 13,107 shares in the company, valued at approximately $2,139,324.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $156.04, for a total value of $1,872,480.00. Following the transaction, the chief executive officer now owns 104,593 shares in the company, valued at approximately $16,320,691.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,502 shares of company stock valued at $8,445,976 in the last three months. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its position in ICU Medical by 100.0% during the third quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 100 shares during the period. Xponance Inc. boosted its holdings in shares of ICU Medical by 6.0% during the 2nd quarter. Xponance Inc. now owns 1,977 shares of the medical instruments supplier’s stock worth $235,000 after buying an additional 112 shares during the period. Equitable Trust Co. grew its stake in ICU Medical by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 5,213 shares of the medical instruments supplier’s stock valued at $950,000 after buying an additional 112 shares during the last quarter. CWM LLC raised its holdings in ICU Medical by 18.5% in the 2nd quarter. CWM LLC now owns 767 shares of the medical instruments supplier’s stock worth $91,000 after acquiring an additional 120 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in ICU Medical by 162.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 122 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on ICUI shares. StockNews.com lowered ICU Medical from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on ICU Medical in a research report on Monday, October 14th. They set a “hold” rating and a $183.00 price target on the stock. KeyCorp raised their price objective on ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a report on Wednesday. Finally, Raymond James increased their price target on shares of ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.00.

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.