Connable Office Inc. Raises Stock Position in ICU Medical, Inc. (NASDAQ:ICUI)

Connable Office Inc. grew its position in ICU Medical, Inc. (NASDAQ:ICUI) by 6.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,031 shares of the medical instruments supplier’s stock after purchasing an additional 122 shares during the period. Connable Office Inc.’s holdings in ICU Medical were worth $370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in ICU Medical by 55.3% in the first quarter. BNP Paribas Financial Markets now owns 4,552 shares of the medical instruments supplier’s stock valued at $489,000 after buying an additional 1,620 shares during the last quarter. Sei Investments Co. boosted its position in shares of ICU Medical by 52.1% during the 1st quarter. Sei Investments Co. now owns 28,586 shares of the medical instruments supplier’s stock worth $3,068,000 after purchasing an additional 9,793 shares during the period. Russell Investments Group Ltd. increased its holdings in ICU Medical by 46.4% in the 1st quarter. Russell Investments Group Ltd. now owns 546 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 173 shares during the last quarter. US Bancorp DE raised its position in ICU Medical by 18.2% in the first quarter. US Bancorp DE now owns 3,098 shares of the medical instruments supplier’s stock valued at $332,000 after purchasing an additional 476 shares during the period. Finally, Entropy Technologies LP lifted its stake in ICU Medical by 74.0% during the first quarter. Entropy Technologies LP now owns 4,046 shares of the medical instruments supplier’s stock worth $434,000 after purchasing an additional 1,721 shares in the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ICUI shares. KeyCorp lifted their price objective on ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of ICU Medical in a research report on Wednesday. Raymond James increased their price target on shares of ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. StockNews.com lowered shares of ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group assumed 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Buying and Selling at ICU Medical

In related news, CEO Vivek Jain sold 12,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 104,593 shares of the company’s stock, valued at $17,096,771.78. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Daniel Woolson sold 2,502 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $163.22, for a total transaction of $408,376.44. Following the completion of the transaction, the vice president now owns 13,107 shares of the company’s stock, valued at $2,139,324.54. This represents a 16.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,502 shares of company stock worth $6,573,496 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.

ICU Medical Trading Down 1.6 %

Shares of ICUI opened at $171.96 on Friday. ICU Medical, Inc. has a 1 year low of $82.82 and a 1 year high of $196.26. The company has a current ratio of 2.29, a quick ratio of 1.08 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $176.32 and a 200-day simple moving average of $142.19.

ICU Medical (NASDAQ:ICUI) last issued its quarterly earnings results on Tuesday, November 12th. The medical instruments supplier reported $1.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $580.07 million during the quarter, compared to the consensus estimate of $574.77 million. As a group, equities analysts forecast that ICU Medical, Inc. will post 3.81 earnings per share for the current year.

About ICU Medical

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.