WCM Investment Management LLC decreased its holdings in ICU Medical, Incorporated (NASDAQ:ICUI) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,191 shares of the medical instruments supplier’s stock after selling 125 shares during the quarter. WCM Investment Management LLC’s holdings in ICU Medical were worth $1,560,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC grew its stake in shares of ICU Medical by 70.2% during the 2nd quarter. Advisory Services Network LLC now owns 143 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 59 shares during the period. Quadrant Capital Group LLC grew its position in ICU Medical by 1,110.5% in the first quarter. Quadrant Capital Group LLC now owns 230 shares of the medical instruments supplier’s stock valued at $53,000 after acquiring an additional 211 shares in the last quarter. Huntington National Bank grew its position in ICU Medical by 15.3% in the second quarter. Huntington National Bank now owns 474 shares of the medical instruments supplier’s stock valued at $119,000 after acquiring an additional 63 shares in the last quarter. ARP Americas LP acquired a new stake in ICU Medical in the first quarter valued at approximately $212,000. Finally, Andesa Financial Management Inc. acquired a new stake in ICU Medical in the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 92.47% of the company’s stock.
In related news, insider Kevin J. Mcgrody sold 7,344 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $231.68, for a total value of $1,701,457.92. Following the transaction, the insider now owns 7,574 shares in the company, valued at $1,754,744.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott E. Lamb sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $250.00, for a total value 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. Over the last ninety days, insiders sold 34,661 shares of company stock valued at $8,354,148. 11.40% of the stock is currently owned by corporate insiders.
ICU Medical (NASDAQ:ICUI) last announced its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.13. The company had revenue of $312.30 million for the quarter, compared to the consensus estimate of $315.47 million. ICU Medical had a return on equity of 12.41% and a net margin of 3.56%. The firm’s revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. As a group, research analysts anticipate that ICU Medical, Incorporated will post 7.21 earnings per share for the current fiscal year.
ICUI has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of ICU Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. TheStreet downgraded shares of ICU Medical from a “b-” rating to a “c+” rating in a research report on Monday, August 12th. BidaskClub downgraded shares of ICU Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Zacks Investment Research downgraded shares of ICU Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Raymond James downgraded shares of ICU Medical from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $290.50.
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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