ICU Medical (ICUI) Releases Earnings Results, Beats Estimates By $0.34 EPS

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ICU Medical (NASDAQ:ICUI) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.34, Briefing.com reports. ICU Medical had a net margin of 5.93% and a return on equity of 12.78%. The business had revenue of $327.20 million for the quarter, compared to the consensus estimate of $334.97 million. During the same period in the prior year, the business posted $1.12 earnings per share. ICU Medical’s revenue for the quarter was down 4.7% compared to the same quarter last year. ICU Medical updated its FY 2018 guidance to $8.45-8.85 EPS and its FY18 guidance to $8.45-8.85 EPS.

ICU Medical stock traded down $28.23 during mid-day trading on Friday, hitting $232.01. 689,193 shares of the company’s stock were exchanged, compared to its average volume of 181,891. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 35.99 and a beta of 0.65. ICU Medical has a 1-year low of $196.33 and a 1-year high of $321.70.

A number of research firms have recently weighed in on ICUI. Zacks Investment Research downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Saturday. TheStreet raised shares of ICU Medical from a “c+” rating to a “b+” rating in a research note on Monday, August 20th. ValuEngine raised shares of ICU Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, BidaskClub raised shares of ICU Medical from a “hold” rating to a “buy” rating in a research report on Friday, September 28th.

In other ICU Medical news, VP Virginia Ruth Sanzone sold 787 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $303.12, for a total transaction of $238,555.44. Following the transaction, the vice president now directly owns 1,367 shares of the company’s stock, valued at $414,365.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pfizer Inc sold 700,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $284.35, for a total transaction of $199,045,000.00. The disclosure for this sale can be found here. Insiders have sold 711,920 shares of company stock worth $202,651,956 over the last three months. Company insiders own 12.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of ICU Medical by 8.3% in the third quarter. BlackRock Inc. now owns 1,431,253 shares of the medical instruments supplier’s stock valued at $404,685,000 after purchasing an additional 109,396 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of ICU Medical by 0.5% in the third quarter. Janus Henderson Group PLC now owns 1,370,845 shares of the medical instruments supplier’s stock valued at $387,606,000 after purchasing an additional 7,475 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of ICU Medical by 15.6% in the third quarter. Wells Fargo & Company MN now owns 507,855 shares of the medical instruments supplier’s stock valued at $143,595,000 after purchasing an additional 68,347 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of ICU Medical by 1.1% in the second quarter. Renaissance Technologies LLC now owns 312,500 shares of the medical instruments supplier’s stock valued at $91,766,000 after purchasing an additional 3,400 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its position in shares of ICU Medical by 58.1% in the second quarter. OppenheimerFunds Inc. now owns 225,807 shares of the medical instruments supplier’s stock valued at $66,308,000 after purchasing an additional 82,976 shares during the last quarter. 73.51% of the stock is currently owned by hedge funds and other institutional investors.

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About ICU Medical

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.

Further Reading: Bond

Earnings History for ICU Medical (NASDAQ:ICUI)

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