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

ICU Medical (NASDAQ:ICUI) announced its quarterly earnings data on Tuesday. The medical instruments supplier reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.35, reports. The firm had revenue of $580.07 million for the quarter, compared to analyst estimates of $574.77 million. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.05%. 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 Stock Down 1.6 %

Shares of NASDAQ:ICUI opened at $171.96 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.08. ICU Medical has a 12-month low of $82.82 and a 12-month high of $196.26. The business has a 50 day moving average of $176.32 and a two-hundred day moving average of $142.19.

Insider Transactions at ICU Medical

In other ICU Medical news, CEO Vivek Jain sold 12,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.84, for a total transaction of $2,062,080.00. Following the transaction, the chief executive officer now owns 104,593 shares in the company, valued at approximately $17,973,261.12. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel Woolson sold 2,502 shares of the firm’s stock in a transaction that occurred 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. The trade was a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,502 shares of company stock valued at $6,573,496 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its holdings in ICU Medical by 162.7% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 122 shares in the last quarter. Allworth Financial LP increased its stake in ICU Medical by 100.0% during the 3rd quarter. Allworth Financial LP now owns 200 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of ICU Medical in the second quarter valued at approximately $32,000. Motco acquired a new stake in shares of ICU Medical in the first quarter worth approximately $29,000. Finally, Venturi Wealth Management LLC raised its stake in ICU Medical by 1,510.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 322 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICUI has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research note on Wednesday. StockNews.com lowered ICU Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp raised their price target on shares of ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James lifted their price objective on shares of ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, Jefferies Financial Group initiated coverage on shares of ICU Medical in a research note on Monday, October 14th. They issued a “hold” rating and a $183.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ICU Medical presently has a consensus rating of “Moderate Buy” and a consensus 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.