ICU Medical, Incorporated (NASDAQ:ICUI) investors should be aware of an increase in hedge fund sentiment recently.
In the financial world, there are plenty of metrics shareholders can use to analyze stocks. A couple of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best money managers can outclass the market by a superb margin (see just how much).
Equally as key, positive insider trading sentiment is another way to parse down the marketplace. Obviously, there are plenty of motivations for an executive to sell shares of his or her company, but just one, very clear reason why they would initiate a purchase. Several academic studies have demonstrated the market-beating potential of this method if “monkeys” understand where to look (learn more here).
Keeping this in mind, let’s take a peek at the recent action regarding ICU Medical, Incorporated (NASDAQ:ICUI).
Hedge fund activity in ICU Medical, Incorporated (NASDAQ:ICUI)
Heading into 2013, a total of 11 of the hedge funds we track held long positions in this stock, a change of 22% from the third quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their stakes significantly.
When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the largest position in ICU Medical, Incorporated (NASDAQ:ICUI). Renaissance Technologies has a $9.6 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, managed by Cliff Asness, which held a $8.9 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining hedgies that are bullish include Joel Greenblatt’s Gotham Asset Management, Ken Griffin’s Citadel Investment Group and John Overdeck and David Siegel’s Two Sigma Advisors.
As industrywide interest jumped, key hedge funds have been driving this bullishness. Citadel Investment Group, managed by Ken Griffin, initiated the largest position in ICU Medical, Incorporated (NASDAQ:ICUI). Citadel Investment Group had 1.9 million invested in the company at the end of the quarter. Steven Cohen’s SAC Capital Advisors also initiated a $0.2 million position during the quarter.
What do corporate executives and insiders think about ICU Medical, Incorporated (NASDAQ:ICUI)?
Insider buying is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the latest 180-day time frame, ICU Medical, Incorporated (NASDAQ:ICUI) has seen zero unique insiders buying, and 2 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to ICU Medical, Incorporated (NASDAQ:ICUI). These stocks are Luminex Corporation (NASDAQ:LMNX), Endologix, Inc. (NASDAQ:ELGX), Conceptus, Inc. (NASDAQ:CPTS), Tornier N.V. (NASDAQ:TRNX), and Cantel Medical Corp. (NYSE:CMN). All of these stocks are in the medical instruments & supplies industry and their market caps are similar to ICUI’s market cap.