Smith Asset Management Group LP cut its holdings in shares of ICU Medical, Incorporated (NASDAQ:ICUI) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,345 shares of the medical instruments supplier’s stock after selling 400 shares during the period. Smith Asset Management Group LP owned about 0.19% of ICU Medical worth $10,842,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its stake in ICU Medical by 85.0% during the third quarter. Meeder Asset Management Inc. now owns 1,935 shares of the medical instruments supplier’s stock worth $546,000 after purchasing an additional 889 shares during the last quarter. Commerce Bank lifted its stake in ICU Medical by 85.6% during the third quarter. Commerce Bank now owns 9,955 shares of the medical instruments supplier’s stock worth $2,815,000 after purchasing an additional 4,591 shares during the last quarter. Wells Fargo & Company MN lifted its stake in ICU Medical by 15.6% during the third quarter. Wells Fargo & Company MN now owns 507,855 shares of the medical instruments supplier’s stock worth $143,595,000 after purchasing an additional 68,347 shares during the last quarter. Chicago Equity Partners LLC lifted its stake in ICU Medical by 48.4% during the third quarter. Chicago Equity Partners LLC now owns 11,970 shares of the medical instruments supplier’s stock worth $3,385,000 after purchasing an additional 3,905 shares during the last quarter. Finally, Signition LP bought a new stake in ICU Medical during the third quarter worth $251,000. Hedge funds and other institutional investors own 73.51% of the company’s stock.
ICUI has been the subject of a number of research reports. TheStreet upgraded ICU Medical from a “c+” rating to a “b+” rating in a research note on Monday, August 20th. Zacks Investment Research upgraded ICU Medical from a “hold” rating to a “strong-buy” rating and set a $337.00 price target for the company in a research note on Wednesday, August 15th. ValuEngine cut ICU Medical from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, BidaskClub upgraded ICU Medical from a “hold” rating to a “buy” rating in a research note on Friday, September 28th.
In related news, 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 value of $199,045,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $238,555.44. Following the completion of the sale, the vice president now owns 1,367 shares of the company’s stock, valued at $414,365.04. The disclosure for this sale can be found here. Insiders sold a total of 711,920 shares of company stock valued at $202,651,956 over the last quarter. 12.50% of the stock is owned by corporate insiders.
Shares of ICUI opened at $258.77 on Tuesday. ICU Medical, Incorporated has a 52 week low of $180.45 and a 52 week high of $321.70. The firm has a market capitalization of $5.39 billion, a PE ratio of 46.88 and a beta of 0.65.
ICU Medical (NASDAQ:ICUI) last announced its quarterly earnings results on Thursday, August 9th. The medical instruments supplier reported $2.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.84. ICU Medical had a return on equity of 12.78% and a net margin of 5.93%. The company had revenue of $360.46 million during the quarter, compared to analysts’ expectations of $337.60 million. During the same period in the prior year, the company earned $0.76 EPS. ICU Medical’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that ICU Medical, Incorporated will post 7.6 earnings per share for the current fiscal year.
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ICU Medical Company Profile
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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