ICU Medical, Inc. (NASDAQ:ICUI) Sees Significant Drop in Short Interest

ICU Medical, Inc. (NASDAQ:ICUI) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 652,500 shares, a drop of 7.2% from the October 15th total of 703,400 shares. Based on an average daily trading volume, of 253,400 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.9% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, VP Daniel Woolson sold 2,502 shares of ICU Medical stock in a transaction that occurred 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 directly owns 13,107 shares in the company, valued at approximately $2,139,324.54. This trade represents a 16.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vivek Jain sold 12,000 shares of the firm’s stock in a transaction that occurred 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 approximately $17,096,771.78. This trade represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,502 shares of company stock worth $6,573,496. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of ICU Medical

A number of large investors have recently made changes to their positions in ICUI. Silvercrest Asset Management Group LLC raised its holdings 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 valued at $29,882,000 after buying an additional 145,485 shares during the period. Victory Capital Management Inc. lifted its stake in ICU Medical by 2,966.3% in 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 boosted its stake in shares of 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 purchasing an additional 104,264 shares in the last quarter. FMR LLC boosted its position in ICU Medical by 2,676.6% during the 3rd quarter. FMR LLC now owns 104,094 shares of the medical instruments supplier’s stock valued at $18,968,000 after acquiring an additional 100,345 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in shares of ICU Medical in the 2nd quarter worth approximately $10,650,000. 96.10% of the stock is currently owned by institutional investors.

ICU Medical Stock Performance

NASDAQ ICUI opened at $167.86 on Monday. The stock has a market capitalization of $4.11 billion, a PE ratio of -36.73 and a beta of 0.66. The business has a 50 day simple moving average of $176.43 and a two-hundred day simple moving average of $143.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.29 and a quick ratio of 1.08. ICU Medical has a 1-year low of $82.82 and a 1-year high of $196.26.

Analyst Ratings Changes

A number of research firms have weighed in on ICUI. Jefferies Financial Group initiated coverage on shares of ICU Medical in a research note on Monday, October 14th. They set a “hold” rating and a $183.00 price objective for the company. KeyCorp increased their target price on ICU Medical from $198.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James lifted their price target on shares of ICU Medical from $158.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. StockNews.com downgraded ICU Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.00.

ICU Medical Company 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.