ICU Medical (ICUI) AI Stock Analysis

• Market Cap: $2.76B
• Dividend Yield: N/A
• Average Volume (3M): 266.11K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.86
• Revenue Growth: 2.95%
• EPS Growth: 47.92%
• Country: US
• Employees: 15,000
• Sector: Healthcare
• Sector Strength: 41
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 2.10
• Shares Outstanding: 24,685,715
• 10 Day Avg. Volume: 436,920
• 30 Day Avg. Volume: 266,105
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.58
• Enterprise Value/Revenue: 1.84
• Enterprise Value/Gross Profit: 5.14
• Enterprise Value/Ebitda: 13.39
• 1Y Price Target: $147.67
• Price Target Upside: 22.09% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 45 Neutral
• Price Target: $118.00 ▼(-2.44% Downside)

ICU Medical's overall stock score is primarily impacted by weak financial performance and valuation concerns, driven by negative profitability and cash flow issues. Technical analysis indicates a bearish trend, further weighing on the score. The earnings call provides some positive insights with stable revenue and growth in key segments, but tariff impacts and adjusted guidance limit the upside.

Positive Factors

Currency and Tariffs

ICUI expects more favorable currency rates and mitigation efforts to reduce tariff impact.

Earnings

ICUI's 2Q25 revenue, EBITDA, and EPS beat consensus.

Partnerships

ICUI's partnership with Otsuka is expected to boost both revenue growth and margin profile, supporting a higher valuation.

Negative Factors

Margin Concerns

Margin outlook was addressed, suggesting some concerns about profitability.

Tariffs

Management maintained their prior 2025 EBITDA and EPS guidance but now expects to be at the low end of the ranges due to tariffs.

Valuation

ICUI's valuation is well above peers with similar organic growth rates.

ICU Medical Business Overview & Revenue Model

Company Description

ICU Medical, Inc. (ICUI) is a global medical technology company that specializes in the development, manufacturing, and sale of innovative medical devices used in infusion therapy, oncology, and critical care. The company primarily operates in the healthcare sector, offering a range of products that include infusion systems, intravenous (IV) access devices, and other related solutions designed to improve patient safety and outcomes. ICU Medical is well-known for its advanced technologies that help healthcare providers deliver medications and fluids accurately and safely.

How the Company Makes Money

ICU Medical generates revenue primarily through the sale of its medical devices and systems. Key revenue streams include the sale of infusion systems, IV access devices, and related consumables. The company also earns income from service agreements and maintenance contracts for its products. Significant partnerships with healthcare providers and hospitals enhance its market reach, while ongoing investments in research and development allow ICU Medical to innovate and expand its product offerings, further driving revenue growth. Additionally, the company benefits from a global presence, enabling it to tap into various international markets.

ICU Medical Financial Statement Overview

Summary

ICU Medical shows strong revenue growth and cash flow resilience, indicating operational strength. However, consistent net losses and rising debt levels pose risks to profitability and shareholder value.

Income Statement

The company shows solid revenue growth of 7.15% from 2023 to TTM, driven by strategic advancements in the medical supplies sector. Despite a negative net income in recent periods, EBIT and EBITDA margins are improving, indicating potential for future profitability. However, continued net losses may pose a risk if not addressed.

Balance Sheet

ICU Medical maintains a stable equity ratio of around 47.5% in TTM, showcasing a strong asset base. The debt-to-equity ratio is manageable at 0.77, but the trend of increasing debt warrants caution. Return on equity is negative due to net losses, impacting overall shareholder returns.

Cash Flow

Operating cash flow remains robust, with a healthy ratio to net income, suggesting efficient core business operations. Free cash flow has improved significantly in TTM, with a positive growth rate of 5.82% from 2024. This indicates strong cash generation capabilities, despite recent net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.37B	2.38B	2.26B	2.28B	1.32B	1.27B
Gross Profit	850.28M	824.78M	739.87M	697.76M	491.49M	461.50M
EBITDA	326.34M	42.96M	253.20M	231.58M	223.46M	194.09M
Net Income	-36.95M	-117.69M	-29.66M	-74.29M	103.14M	86.87M
Balance Sheet
Total Assets	4.11B	4.20B	4.38B	4.52B	1.88B	1.76B
Cash, Cash Equivalents and Short-Term Investments	300.02M	308.57M	254.72M	213.01M	567.25M	410.78M
Total Debt	1.39B	1.64B	1.70B	1.73B	45.69M	52.70M
Total Liabilities	1.99B	2.24B	2.26B	2.43B	264.71M	261.43M
Stockholders Equity	2.12B	1.97B	2.12B	2.09B	1.62B	1.50B
Cash Flow
Free Cash Flow	61.06M	124.66M	72.53M	-161.46M	186.37M	122.36M
Operating Cash Flow	138.83M	204.03M	166.20M	-62.13M	267.54M	222.75M
Investing Cash Flow	121.24M	-88.96M	-87.95M	-1.91B	-90.69M	-98.14M
Financing Cash Flow	-269.92M	-55.80M	-35.98M	1.64B	-16.87M	-40.00K

ICU Medical Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 120.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICUI, the sentiment is Negative. The current price of 120.95 is below the 20-day moving average (MA) of 123.28, below the 50-day MA of 128.24, and below the 200-day MA of 146.54, indicating a bearish trend. The MACD of -4.02 indicates Positive momentum. The RSI at 47.34 is Neutral, neither overbought nor oversold. The STOCH value of 33.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ICUI.

ICU Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HOLX	75 Outperform	$15.14B	28.13	11.38%	―	1.28%	-17.73%
TFX	73 Outperform	$5.37B	28.60	4.36%	1.13%	1.11%	-23.73%
HAE	72 Outperform	$2.52B	16.40	18.27%	―	0.91%	45.81%
Sector *	65 Neutral	¥341.94B	11.51	-0.17%	2.40%	9.60%	-10.22%
MASI	51 Neutral	$8.25B	116.65	-20.54%	―	-8.36%	-669.36%
QDEL	50 Neutral	$1.76B	―	-14.80%	―	-3.00%	76.48%
ICUI	45 Neutral	$2.76B	―	-1.78%	―	2.95%	47.92%

ICU Medical Corporate Events

ICU Medical Stockholders Approve Key Proposals at Meeting

On May 13, 2025, ICU Medical, Inc. held its annual meeting of stockholders, where several key proposals were approved. The stockholders approved an amendment to the 2011 Stock Incentive Plan, increasing the number of shares available for issuance and for incentive stock options by 2,150,000 shares each. Additionally, the election of directors, the ratification of Deloitte & Touche LLP as the independent auditor, the executive officer compensation, and a stockholder proposal for simple majority voting were all approved.

The most recent analyst rating on (ICUI) stock is a Hold with a $183.00 price target. To see the full list of analyst forecasts on ICU Medical stock, see the ICUI Stock Forecast page.