State Board of Administration of Florida Retirement System grew its stake in shares of ICU Medical, Incorporated (NASDAQ:ICUI) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,353 shares of the medical instruments supplier’s stock after buying an additional 2,130 shares during the period. State Board of Administration of Florida Retirement System’s holdings in ICU Medical were worth $5,110,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ICUI. Advisory Services Network LLC grew its holdings in ICU Medical by 475.0% during the fourth quarter. Advisory Services Network LLC now owns 115 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 95 shares during the period. We Are One Seven LLC acquired a new stake in shares of ICU Medical in the fourth quarter valued at $32,000. CX Institutional acquired a new stake in shares of ICU Medical in the first quarter valued at $34,000. Berman Capital Advisors LLC acquired a new stake in shares of ICU Medical in the fourth quarter valued at $33,000. Finally, Financial Gravity Companies Inc. purchased a new stake in ICU Medical during the 4th quarter worth about $45,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
ICUI has been the subject of several analyst reports. Raymond James reduced their price objective on ICU Medical from $315.00 to $300.00 and set a “strong-buy” rating for the company in a research note on Friday, March 1st. BidaskClub lowered ICU Medical from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. TheStreet lowered ICU Medical from a “b-” rating to a “c+” rating in a research note on Tuesday, March 19th. Finally, Zacks Investment Research raised ICU Medical from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $281.00.
NASDAQ ICUI traded up $1.72 during trading hours on Friday, hitting $226.22. The company had a trading volume of 1,623 shares, compared to its average volume of 188,172. ICU Medical, Incorporated has a fifty-two week low of $210.94 and a fifty-two week high of $321.70. The company has a market cap of $4.66 billion, a P/E ratio of 29.21 and a beta of 0.69.
ICU Medical (NASDAQ:ICUI) last announced its earnings results on Thursday, May 9th. The medical instruments supplier reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.39. The company had revenue of $330.93 million during the quarter, compared to the consensus estimate of $318.97 million. ICU Medical had a return on equity of 13.70% and a net margin of 4.04%. The company’s revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. As a group, equities analysts predict that ICU Medical, Incorporated will post 8.55 earnings per share for the current fiscal year.
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About ICU Medical
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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