ICU Medical (NASDAQ:ICUI) Stock Price Down 6.2% After Analyst Downgrade

ICU Medical, Inc. (NASDAQ:ICUI)’s share price traded down 6.2% during mid-day trading on Tuesday after KeyCorp lowered their price target on the stock from $209.00 to $191.00. KeyCorp currently has an overweight rating on the stock. ICU Medical traded as low as $132.95 and last traded at $128.29. 118,240 shares were traded during mid-day trading, a decline of 56% from the average session volume of 269,985 shares. The stock had previously closed at $136.72.

ICUI has been the subject of a number of other research reports. StockNews.com raised shares of ICU Medical from a “hold” rating to a “buy” rating in a research report on Wednesday, April 16th. Raymond James set a $97.00 price target on ICU Medical in a research report on Wednesday, March 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ICU Medical in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $162.67.

Institutional Trading of ICU Medical

Several hedge funds have recently added to or reduced their stakes in ICUI. Barclays PLC grew its position in ICU Medical by 15.6% in the 3rd quarter. Barclays PLC now owns 59,207 shares of the medical instruments supplier’s stock valued at $10,790,000 after buying an additional 8,010 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of ICU Medical by 24.6% in the third quarter. Principal Financial Group Inc. now owns 126,937 shares of the medical instruments supplier’s stock valued at $23,130,000 after acquiring an additional 25,031 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of ICU Medical by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 2,682,065 shares of the medical instruments supplier’s stock valued at $416,176,000 after acquiring an additional 17,805 shares during the period. Jennison Associates LLC bought a new stake in ICU Medical during the fourth quarter worth approximately $556,000. Finally, Franklin Resources Inc. boosted its stake in ICU Medical by 99.3% during the 3rd quarter. Franklin Resources Inc. now owns 11,708 shares of the medical instruments supplier’s stock valued at $2,111,000 after purchasing an additional 5,834 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

ICU Medical Trading Down 5.6 %

The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $145.94 and a 200-day moving average price of $159.18. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -28.26 and a beta of 0.86.

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.