Putnam Investments LLC trimmed its position in ICU Medical, Incorporated (NASDAQ:ICUI) by 21.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 388,557 shares of the medical instruments supplier’s stock after selling 108,568 shares during the period. Putnam Investments LLC’s holdings in ICU Medical were worth $97,881,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its stake in ICU Medical by 28.1% in the second quarter. Invesco Ltd. now owns 428,233 shares of the medical instruments supplier’s stock valued at $107,876,000 after purchasing an additional 93,904 shares in the last quarter. DRW Securities LLC purchased a new stake in ICU Medical in the second quarter valued at approximately $204,000. Atlanta Capital Management Co. L L C raised its stake in ICU Medical by 7.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 187,424 shares of the medical instruments supplier’s stock valued at $47,214,000 after purchasing an additional 13,014 shares in the last quarter. BlackRock Inc. raised its stake in ICU Medical by 4.9% in the second quarter. BlackRock Inc. now owns 1,558,317 shares of the medical instruments supplier’s stock valued at $392,555,000 after purchasing an additional 72,346 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in ICU Medical by 28.5% in the second quarter. HighTower Advisors LLC now owns 1,825 shares of the medical instruments supplier’s stock valued at $466,000 after purchasing an additional 405 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ ICUI traded down $1.80 on Wednesday, reaching $162.48. 17,904 shares of the company’s stock traded hands, compared to its average volume of 205,421. ICU Medical, Incorporated has a 12 month low of $151.01 and a 12 month high of $286.45. The stock has a 50-day simple moving average of $180.74 and a 200 day simple moving average of $222.26. The stock has a market cap of $3.36 billion, a PE ratio of 21.07 and a beta of 0.94.
ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.13. ICU Medical had a net margin of 3.56% and a return on equity of 12.41%. The business had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $315.47 million. During the same period last year, the business earned $2.69 earnings per share. The business’s quarterly revenue was down 13.4% on a year-over-year basis. On average, equities analysts predict that ICU Medical, Incorporated will post 7.21 EPS for the current fiscal year.
In other news, Director Robert S. Swinney sold 239 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $248.73, for a total value of $59,446.47. Following the transaction, the director now owns 19,662 shares in the company, valued at $4,890,529.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott E. Lamb sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. Following the completion of the transaction, the chief financial officer now owns 34,984 shares in the company, valued at approximately $8,746,000. The disclosure for this sale can be found here. Insiders have sold 30,317 shares of company stock worth $7,114,931 over the last quarter. Company insiders own 11.40% of the company’s stock.
A number of equities research analysts recently weighed in on ICUI shares. TheStreet downgraded shares of ICU Medical from a “b-” rating to a “c+” rating in a research note on Monday, August 12th. Raymond James set a $185.00 target price on shares of ICU Medical and gave the company a “buy” rating in a research note on Friday, September 6th. ValuEngine downgraded shares of ICU Medical from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. BidaskClub downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Zacks Investment Research downgraded shares of ICU Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $233.00.
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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