ICU Medical (NASDAQ:ICUI) Issues Quarterly Earnings Results

ICU Medical (NASDAQ:ICUI) announced its earnings results on Thursday. The medical instruments supplier reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.23, FiscalAI reports. ICU Medical had a net margin of 0.03% and a return on equity of 7.37%. The company had revenue of $535.94 million during the quarter, compared to analysts’ expectations of $541.20 million. During the same quarter in the previous year, the business posted $2.11 earnings per share. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. ICU Medical updated its FY 2026 guidance to 7.750-8.450 EPS.

Here are the key takeaways from ICU Medical’s conference call:

• Q4 revenue was $536M (2% organic) and FY organic growth was 5%, with adjusted EBITDA of $98M and EPS of $1.91; 2026 guidance targets low- to mid-single-digit organic revenue growth and $400M–$430M adjusted EBITDA (EPS $7.75–$8.45), signaling improved near-term financial expectations.
• Management closed the Smiths Medical FDA warning letter, is advancing 510(k) submissions for the Medfusion 5000 and CADD pumps, and reports major manufacturing integrations and a Europe ERP go-live, reducing regulatory and operational risk.
• Cash generation and deleveraging progressed—2025 free cash flow ~$100M, >$300M of debt repaid last year to net debt near $1B—and free cash flow will be prioritized to reach a 2x leverage target (potentially enabling buybacks thereafter).
• Tariffs and the deconsolidation of the IV Solutions JV materially affected results (combined ~$25M drag on Q4 adjusted EBITDA), and management expects tariffs to equal roughly 2% of revenue in 2026, pressuring margins until mitigations take effect.
• Vital Care remains weak (organic down ~6%, reported down 35% due to the JV); management is discontinuing low‑profit SKUs and exploring strategic options, with near-term revenue for those businesses guided to be flat to slightly down.

ICU Medical Stock Performance

NASDAQ ICUI opened at $157.03 on Friday. The business’s 50-day moving average price is $149.40 and its 200 day moving average price is $135.87. ICU Medical has a twelve month low of $107.00 and a twelve month high of $164.35. The company has a market capitalization of $3.88 billion, a PE ratio of 7,855.43 and a beta of 0.79. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ICUI. Mercer Global Advisors Inc. ADV acquired a new position in shares of ICU Medical in the 3rd quarter valued at $304,000. Lido Advisors LLC increased its holdings in shares of ICU Medical by 7.9% during the 3rd quarter. Lido Advisors LLC now owns 2,373 shares of the medical instruments supplier’s stock worth $285,000 after buying an additional 174 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of ICU Medical by 803.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,214 shares of the medical instruments supplier’s stock worth $266,000 after buying an additional 1,969 shares during the period. Virtu Financial LLC purchased a new position in shares of ICU Medical in the 3rd quarter worth $253,000. Finally, Cibc World Markets Corp acquired a new position in ICU Medical in the fourth quarter valued at $228,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

Key Stories Impacting ICU Medical

Here are the key news stories impacting ICU Medical this week:

• Positive Sentiment: Q4 EPS beat street estimates — ICU Medical reported $1.91 EPS vs. the consensus $1.68, a surprise on the bottom line that helped lift sentiment. Earnings and Revenues Surpass Estimates
• Positive Sentiment: Company raised FY2026 EPS guidance to a range of $7.75–$8.45, above the consensus ~7.41, signaling confidence in the outlook and likely supporting the rally. Company Press Release
• Positive Sentiment: Sell-side support: Piper Sandler reiterated a Buy rating, which can sustain investor demand following results. Piper Sandler Rating
• Neutral Sentiment: Board action to extend an executive severance plan was announced as a measure to preserve leadership stability — governance/retention detail that reduces execution risk but is not a direct earnings driver. Severance Plan Extension
• Neutral Sentiment: Company published the earnings slide deck and call transcript for investors to review management commentary and details on margins, supply chain and demand trends. Earnings Call Transcript
• Negative Sentiment: Revenue slightly missed expectations at $535.94M vs. $541.20M est. and was down ~14% year‑over‑year, highlighting ongoing demand weakness that investors will watch for reversal. Q4 Results and Guidance
• Negative Sentiment: Profitability pressure: EPS declined from $2.11 a year ago to $1.91 and the company reported a slightly negative net margin, underscoring margin and volume headwinds. Investor Presentation / Press Release

Wall Street Analysts Forecast Growth

ICUI has been the subject of several research reports. Piper Sandler lifted their price objective on ICU Medical from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen raised ICU Medical from a “hold” rating to a “buy” rating in a report on Sunday, February 15th. KeyCorp increased their price objective on ICU Medical from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ICU Medical in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.33.

ICU Medical Company Profile

ICU Medical, Inc, together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy, vascular access, and vital care applications worldwide. Its infusion therapy products include needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoClave and ChemoLock closed system transfer devices, which are used to limit the escape of hazardous drugs or vapor concentrations, block the transfer of environmental contaminants into the system, and eliminates the risk of needlestick injury; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; and ClearGuard, SwabCap, and SwabTip disinfection caps.