UBS Asset Management Americas Inc. cut its holdings in ICU Medical, Inc. (NASDAQ:ICUI) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,929 shares of the medical instruments supplier’s stock after selling 2,165 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.16% of ICU Medical worth $5,335,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Quantitative Investment Management LLC purchased a new stake in ICU Medical in the second quarter worth about $5,209,000. New York State Common Retirement Fund grew its holdings in shares of ICU Medical by 6.3% during the second quarter. New York State Common Retirement Fund now owns 71,739 shares of the medical instruments supplier’s stock valued at $12,375,000 after buying an additional 4,283 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of ICU Medical by 18.0% during the second quarter. Profund Advisors LLC now owns 2,436 shares of the medical instruments supplier’s stock valued at $420,000 after buying an additional 372 shares during the last quarter. Amalgamated Bank grew its holdings in shares of ICU Medical by 5.3% during the second quarter. Amalgamated Bank now owns 2,063 shares of the medical instruments supplier’s stock valued at $356,000 after buying an additional 104 shares during the last quarter. Finally, BlackRock Inc. lifted its position in ICU Medical by 0.6% during the second quarter. BlackRock Inc. now owns 1,780,976 shares of the medical instruments supplier’s stock valued at $307,218,000 after purchasing an additional 11,046 shares during the period. 78.13% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Sidoti cut shares of ICU Medical from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 20th. BidaskClub cut shares of ICU Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, KeyCorp initiated coverage on shares of ICU Medical in a research note on Tuesday. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $193.00.
In other ICU Medical news, Chairman Vivek Jain sold 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $190.91, for a total value of $420,956.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert S. Swinney sold 3,400 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $173.98, for a total value of $591,532.00. Following the completion of the transaction, the director now directly owns 20,893 shares in the company, valued at $3,634,964.14. The disclosure for this sale can be found here. Insiders sold a total of 26,929 shares of company stock valued at $4,911,313 in the last 90 days. 13.60% of the stock is owned by company insiders.
Shares of ICU Medical, Inc. (NASDAQ ICUI) opened at 187.75 on Wednesday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 75.19 and a beta of 0.35. The stock has a 50 day moving average of $182.29 and a 200 day moving average of $168.75. ICU Medical, Inc. has a 12-month low of $127.00 and a 12-month high of $192.65.
ICU Medical (NASDAQ:ICUI) last announced its earnings results on Wednesday, August 9th. The medical instruments supplier reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.06). The firm had revenue of $331.51 million during the quarter, compared to analyst estimates of $318.30 million. ICU Medical had a net margin of 6.10% and a return on equity of 7.56%. The company’s revenue for the quarter was up 242.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. Analysts forecast that ICU Medical, Inc. will post $4.11 earnings per share for the current year.
ICU Medical Profile
ICU Medical, Inc is engaged in the development, manufacture and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, custom infusion sets, closed system transfer devices (CSTD) for the handling of hazardous drugs, advanced sensor catheters, needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.
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