Is ICU Medical, Incorporated (ICUI) A Good Stock To Buy?

Due to the fact that ICU Medical, Incorporated (NASDAQ:ICUI) has encountered bearish sentiment from the smart money, we can see that there were a few money managers that decided to sell off their positions entirely heading into Q4. Interestingly, Millennium Management, also one of the 10 largest hedge funds in the world, got rid of the largest position of all the hedgies tracked by Insider Monkey, comprising about $8.8 million in stock. Highbridge Capital Management also dropped its stock, about $1.9 million worth.

Let’s also examine hedge fund activity in other stocks similar to ICU Medical, Incorporated (NASDAQ:ICUI). We will take a look at Enbridge Energy Management, L.L.C. (NYSE:EEQ), Franks International NV (NYSE:FI), Mueller Water Products, Inc. (NYSE:MWA), and Artisan Partners Asset Management Inc (NYSE:APAM). This group of stocks’ market valuations are closest to ICUI’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $84 million. That figure was $138 million in ICUI’s case. Mueller Water Products, Inc. (NYSE:MWA) is the most popular stock in this table. On the other hand Enbridge Energy Management, L.L.C. (NYSE:EEQ) is the least popular one with only 6 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 MWA might be a better candidate to consider taking a long position in.