Connable Office Inc. Grows Stock Holdings in ICU Medical, Inc. (NASDAQ:ICUI)

Connable Office Inc. lifted its holdings in ICU Medical, Inc. (NASDAQ:ICUI) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,031 shares of the medical instruments supplier’s stock after acquiring an additional 122 shares during the quarter. Connable Office Inc.’s holdings in ICU Medical were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Silvercrest Asset Management Group LLC grew its position in ICU Medical by 109.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 278,436 shares of the medical instruments supplier’s stock worth $29,882,000 after purchasing an additional 145,485 shares during the period. Victory Capital Management Inc. grew its holdings in ICU Medical by 2,966.3% during the second quarter. Victory Capital Management Inc. now owns 141,848 shares of the medical instruments supplier’s stock worth $16,844,000 after acquiring an additional 137,222 shares during the period. Millennium Management LLC raised its position in ICU Medical by 327.8% during the second quarter. Millennium Management LLC now owns 136,070 shares of the medical instruments supplier’s stock valued at $16,158,000 after acquiring an additional 104,264 shares in the last quarter. Granite Investment Partners LLC acquired a new position in ICU Medical in the second quarter valued at approximately $10,650,000. Finally, F M Investments LLC purchased a new stake in ICU Medical in the 2nd quarter worth approximately $10,175,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

Insider Activity at ICU Medical

In other ICU Medical news, VP Daniel Woolson sold 2,502 shares of the stock in a transaction dated 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 owns 13,107 shares in the company, valued at approximately $2,139,324.54. This represents a 16.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vivek Jain sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.46, for a total value of $1,961,520.00. Following the transaction, the chief executive officer now owns 104,593 shares in the company, valued at approximately $17,096,771.78. This represents a 10.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,502 shares of company stock valued at $6,573,496. 6.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ICUI shares. StockNews.com lowered shares of ICU Medical from a “buy” rating to a “hold” rating in a report on Tuesday. KeyCorp lifted their price objective on shares of ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group started coverage on shares of ICU Medical in a research note on Monday, October 14th. They set a “hold” rating and a $183.00 target price on the stock. Raymond James lifted their price target on ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $173.00.

ICU Medical Stock Performance

Shares of NASDAQ ICUI opened at $171.96 on Friday. The company’s 50-day simple moving average is $176.32 and its 200-day simple moving average is $142.19. The company has a current ratio of 2.29, a quick ratio of 1.08 and a debt-to-equity ratio of 0.75. ICU Medical, Inc. has a 52-week low of $82.82 and a 52-week high of $196.26.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Tuesday, November 12th. The medical instruments supplier reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.35. ICU Medical had a negative net margin of 4.74% and a positive return on equity of 5.05%. The firm had revenue of $580.07 million for the quarter, compared to analyst estimates of $574.77 million. Sell-side analysts predict that ICU Medical, Inc. will post 3.81 EPS for the current year.

ICU Medical Profile

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.