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

ICU Medical, Inc. (NASDAQ:ICUI) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 735,400 shares, an increase of 11.8% from the November 30th total of 657,500 shares. Based on an average daily volume of 237,500 shares, the days-to-cover ratio is presently 3.1 days. Approximately 3.3% of the company’s stock are short sold.

Insider Buying and Selling

In related news, COO Christian B. Voigtlander sold 1,962 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $169.08, for a total transaction of $331,734.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vivek Jain sold 12,000 shares of ICU Medical stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $162.91, for a total transaction of $1,954,920.00. Following the completion of the sale, the chief executive officer now directly owns 104,593 shares in the company, valued at approximately $17,039,245.63. This represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,364 shares of company stock worth $4,728,358. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On ICU Medical

Several hedge funds and other institutional investors have recently modified their holdings of ICUI. Bank of New York Mellon Corp raised its position in shares of ICU Medical by 11.5% in the second quarter. Bank of New York Mellon Corp now owns 216,509 shares of the medical instruments supplier’s stock worth $25,710,000 after buying an additional 22,310 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ICU Medical by 16.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,514 shares of the medical instruments supplier’s stock valued at $655,000 after acquiring an additional 786 shares during the last quarter. Versor Investments LP purchased a new position in shares of ICU Medical during the second quarter worth about $273,000. Rhumbline Advisers grew its holdings in shares of ICU Medical by 23.0% during the second quarter. Rhumbline Advisers now owns 66,916 shares of the medical instruments supplier’s stock worth $7,946,000 after purchasing an additional 12,519 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. increased its position in shares of ICU Medical by 0.9% in the second quarter. Mesirow Institutional Investment Management Inc. now owns 145,028 shares of the medical instruments supplier’s stock worth $17,222,000 after purchasing an additional 1,297 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

ICU Medical Stock Performance

Shares of NASDAQ:ICUI traded up $0.97 during midday trading on Wednesday, reaching $155.17. 141,898 shares of the company traded hands, compared to its average volume of 269,089. The firm’s fifty day moving average price is $165.36 and its two-hundred day moving average price is $155.50. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -33.95 and a beta of 0.62. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.75. ICU Medical has a 12 month low of $86.80 and a 12 month high of $196.26.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ICUI shares. StockNews.com raised ICU Medical from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. KeyCorp lifted their price objective on ICU Medical from $198.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James upped their price objective on shares of ICU Medical from $158.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Needham & Company LLC reiterated a “hold” rating on shares of ICU Medical in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group raised shares of ICU Medical from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.67.

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.