Vivek Jain, the Chairman and CEO of ICU Medical Inc. (NASDAQ:ICUI), has sold shares in the company totaling approximately $1.95 million, according to a recent SEC filing. The transactions occurred on December 2, 2024, and involved the disposal of 12,000 shares at prices ranging from $162.29 to $163.96 per share. The $3.96 billion market cap company has shown strong momentum, delivering a 76% return over the past year. According to InvestingPro analysis, the stock currently trades near its Fair Value.
In addition to the sales, Jain also exercised options to acquire 12,000 shares of common stock at a price of $88.76 per share, valued at approximately $1.07 million. Following these transactions, Jain's direct ownership in ICU Medical (TASE:PMCN) stands at 104,593 shares. The sales were executed under a Rule 10b5-1 trading plan that Jain adopted in March 2024. With analyst targets ranging from $178 to $225 and an overall "Good" financial health score from InvestingPro, investors can access detailed insights and 10 additional ProTips through the platform's comprehensive research reports.
In other recent news, ICU Medical Inc. reported a revenue of $580 million in the third quarter of 2024, marking a 7% increase on a constant currency basis. The company's adjusted EBITDA stood at $95 million, with gross margins improving due to supply chain efficiencies. ICU Medical also announced a strategic joint venture with Otsuka, aiming to enhance the company's position in the IV solutions market.
This development comes amid strong demand across all regions and growth in the company's consumables and IV systems segments. Furthermore, ICU Medical has raised its future guidance, with adjusted EBITDA expected to be between $355 million to $365 million and adjusted EPS projected at $5.40 to $5.70 per share.
Despite some disruption due to the U.S. portion of their ERP implementation, the company remains on track to complete all projects by the end of 2024. The joint venture is expected to be neutral to marginally positive for free cash flow. These are among the recent developments for ICU Medical Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.