What’s a smart ICU Medical, Incorporated (NASDAQ:ICUI) investor to do?
To the average investor, there are many indicators shareholders can use to watch the equity markets. A duo of the most innovative are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite investment managers can beat the S&P 500 by a significant amount (see just how much).
Equally as useful, optimistic insider trading sentiment is another way to analyze the financial markets. Obviously, there are lots of stimuli for an executive to sell shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the valuable potential of this method if “monkeys” know where to look (learn more here).
Now that that’s out of the way, we’re going to discuss the recent info about ICU Medical, Incorporated (NASDAQ:ICUI).
What have hedge funds been doing with ICU Medical, Incorporated (NASDAQ:ICUI)?
At Q2’s end, a total of 16 of the hedge funds we track were long in this stock, a change of 14% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings meaningfully.
According to our 13F database, Mariko Gordon’s Daruma Asset Management had the biggest position in ICU Medical, Incorporated (NASDAQ:ICUI), worth close to $39.7 million, accounting for 1.9% of its total 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $18.3 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedgies with similar optimism include Jacob Gottlieb’s Visium Asset Management, Cliff Asness’s AQR Capital Management and Ron Gutfleish’s Elm Ridge Capital.
As one would understandably expect, certain bigger names have jumped into ICU Medical, Incorporated (NASDAQ:ICUI) headfirst. Daruma Asset Management, managed by Mariko Gordon, established the most valuable position in ICU Medical, Incorporated (NASDAQ:ICUI). Daruma Asset Management had 39.7 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $18.3 million position during the quarter. The other funds with new positions in the stock are Jacob Gottlieb’s Visium Asset Management, Cliff Asness’s AQR Capital Management, and Ron Gutfleish’s Elm Ridge Capital.
How are insiders trading ICU Medical, Incorporated (NASDAQ:ICUI)?
Insider buying is most useful when the company in focus has experienced transactions within the past half-year. Over the last 180-day time frame, ICU Medical, Incorporated (NASDAQ:ICUI) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators 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 resemble ICUI’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Luminex Corporation (NASDAQ:LMNX)||8||0||0|
|Endologix, Inc. (NASDAQ:ELGX)||10||0||0|
|Conceptus, Inc. (NASDAQ:CPTS)||13||0||0|
|Tornier N.V. (NASDAQ:TRNX)||17||0||0|
|Cantel Medical Corp. (NYSE:CMN)||8||0||0|
Using the returns shown by the previously mentioned tactics, regular investors must always keep one eye on hedge fund and insider trading activity, and ICU Medical, Incorporated (NASDAQ:ICUI) shareholders fit into this picture quite nicely.