ICU Medical, Incorporated (ICUI): Are Hedge Funds Right About This Stock?

Due to the fact that ICU Medical, Incorporated (NASDAQ:ICUI) has faced a declination in interest from hedge fund managers, it’s easy to see that there was a specific group of fund managers that decided to sell off their full holdings by the end of the third quarter. At the top of the heap, Justin John Ferayorni’s Tamarack Capital Management cut the largest stake of the 700 funds followed by Insider Monkey, worth close to $10.1 million in stock. Robert Joseph Caruso’s fund, Select Equity Group, also dropped its stock, about $9.4 million worth of shares. These bearish behaviors are important to note, as total hedge fund interest was cut by 2 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks similar to ICU Medical, Incorporated (NASDAQ:ICUI). We will take a look at EXACT Sciences Corporation (NASDAQ:EXAS), DeVry Education Group Inc (NYSE:DV), Worthington Industries, Inc. (NYSE:WOR), and South Jersey Industries Inc (NYSE:SJI). All of these stocks’ market caps are closest to ICU Medical, Incorporated (NASDAQ:ICUI)’s market cap.

As you can see, these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $207 million. That figure was $178 million in ICU Medical, Incorporated (NASDAQ:ICUI)’s case. EXACT Sciences Corporation (NASDAQ:EXAS) is the most popular stock in this table. On the other hand, South Jersey Industries Inc (NYSE:SJI) is the least popular one with only 10 bullish hedge fund positions. ICU Medical, Incorporated (NASDAQ:ICUI) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, EXACT Sciences Corporation (NASDAQ:EXAS) might be a better candidate to consider a long position.