Medical device company ICU Medical (NASDAQ:ICUI) will be reporting results tomorrow after market close. Here’s what you need to know.
ICU Medical beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $589.1 million, up 6.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates but a significant miss of analysts’ EPS estimates.
Is ICU Medical a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ICU Medical’s revenue to be flat year on year at $585.1 million, slowing from the 1.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.48 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ICU Medical has missed Wall Street’s revenue estimates three times over the last two years.
Looking at ICU Medical’s peers in the medical devices & supplies - cardiology, neurology, vascular segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Artivion delivered year-on-year revenue growth of 3.9%, missing analysts’ expectations by 3.8%, and Merit Medical Systems reported revenues up 9.4%, topping estimates by 1%. Artivion traded down 8.1% following the results.
Read our full analysis of Artivion’s results here and Merit Medical Systems’s results here.
Stocks generally had a good 2024. The Fed fought high inflation and won without sending the economy into a recession, otherwise lovingly known as a soft landing. The U.S. Central Bank is now cutting rates. That, plus the election of Donald Trump in November 2024, sent markets even higher, and while some of the medical devices & supplies - cardiology, neurology, vascular stocks have shown solid performance, the group has generally underperformed, with share prices down 4.5% on average over the last month. ICU Medical is down 9.3% during the same time and is heading into earnings with an average analyst price target of $203.40 (compared to the current share price of $154.05).
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