ICU Medical (ICUI) AI Stock Analysis

• Market Cap: $3.32B
• Dividend Yield: N/A
• Average Volume (3M): 300.02K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.91
• Revenue Growth: 7.19%
• EPS Growth: -56.19%
• Country: US
• Employees: 15,000
• Sector: Healthcare
• Sector Strength: 44
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 1.72
• Shares Outstanding: 24,611,937
• 10 Day Avg. Volume: 325,959
• 30 Day Avg. Volume: 300,021
• PEG Ratio: 5.06
• Price to Book (P/B): 1.72
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 27.87
• Enterprise Value/Market Cap: 1.43
• Enterprise Value/Revenue: 0.51
• Enterprise Value/Gross Profit: 5.76
• Enterprise Value/Ebitda: 3.18
• 1Y Price Target: $189.00
• Price Target Upside: 44.55% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 68 Neutral
• Price Target: $150.00 ▲( 14.72% Upside)

ICU Medical's overall score reflects a robust revenue and cash flow performance, counterbalanced by persistent net losses and valuation challenges. The earnings call highlighted positive growth and strategic initiatives, but also noted tariff and regulatory challenges. Technical indicators suggest mixed market sentiment.

Positive Factors

Earnings

ICUI's 1Q25 revenue, EBITDA, and EPS beat consensus.

Market Position

ICUI is a leading player in the infusion pumps and critical care products market, which is growing and offers share gain opportunities.

Partnerships

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

Negative Factors

Guidance

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

Tariffs

ICUI could be impacted by potential tariffs on Mexico imports, as the company has three plants in Mexico.

Valuation

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

ICU Medical Business Overview & Revenue Model

Company Description

ICU Medical, Inc., together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy and critical care applications worldwide. The company's infusion therapy products include needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; SwabCap and SwabTip disinfecting caps; Tego hemodialysis connectors; ClearGuard HD, an antimicrobial barrier cap for hemodialysis catheters; and ChemoClave and ChemoLock closed system transfer devices, as well as Diana hazardous drug compounding system for the preparation of hazardous drugs. It also provides IV therapy and diluents, such as sodium chloride, dextrose, balanced electrolyte solutions, lactated ringer's, ringer's, mannitol, sodium chloride/dextrose, and sterile water; and irrigation comprising sodium chloride and sterile water irrigation, physiologic solutions, ringer's irrigation, acetic acid irrigation, glycine irrigation, sorbitol-mannitol irrigation, flexible containers, and pour bottle options. The company offers infusion pumps under the Plum 360 and LifeCare PCA brands; IV mediation safety software, including ICU Medical MedNet, an enterprise-class medication management platform that connects smart pumps to hospital's electronic health records, asset tracking systems, and alarm notification platforms; and related professional services. It also provides critical care products, such as Cogent 2-in-1 and CardioFlo hemodynamic monitoring systems; TDQ and OptiQ cardiac output monitoring catheters; TriOx venous oximetry catheters; Transpac blood pressure transducers; and SafeSet closed blood sampling and conservation systems. The company sells its products to acute care hospitals, wholesalers, ambulatory clinics, and alternate site facilities, including outpatient clinics, home health care providers, and long-term care facilities. ICU Medical, Inc. was founded in 1984 and is headquartered in San Clemente, California.

How the Company Makes Money

ICU Medical generates revenue primarily through the sale of its medical devices and systems, which are designed for use in hospitals, outpatient clinics, and home healthcare settings. The company's key revenue streams include the sales of infusion therapy systems, which comprise IV sets and solutions, needle-free connectors, and related accessories. Additionally, ICU Medical earns income from its oncology systems, which offer closed system transfer devices to safely handle hazardous drugs. The company also benefits from strategic partnerships and long-term contracts with healthcare providers and institutions that ensure a consistent demand for its products. By focusing on innovation and quality, ICU Medical maintains a strong market presence and competitive edge in the medical technology industry.

ICU Medical Financial Statement Overview

Summary

ICU Medical shows moderate revenue growth and strong cash flow generation. However, profitability remains a challenge with a negative net profit margin and ROE. The balance sheet is relatively strong with manageable leverage, but the company needs to improve operational efficiencies to enhance profitability.

Income Statement

ICU Medical has shown a modest revenue growth of 5.45% from 2023 to 2024, with a Gross Profit Margin standing at 34.61% in 2024. However, the company is struggling with profitability as evidenced by a negative Net Profit Margin of -4.94% in 2024, down from -1.31% in 2023. The EBIT Margin at 1.80% indicates operational challenges, although there is slight improvement. Overall, the income statement reflects moderate revenue growth but significant challenges in achieving profitability.

Balance Sheet

The balance sheet of ICU Medical is relatively strong with a Debt-to-Equity ratio of 0.81, showing manageable leverage. The company's Equity Ratio is 46.73%, indicating a balanced capital structure. However, Return on Equity (ROE) is negative at -5.99% due to negative net income, indicating poor profitability. While the company maintains a stable asset base, the negative ROE highlights a need for improved financial performance.

Cash Flow

ICU Medical's cash flow position reflects a positive trajectory with a significant increase in Free Cash Flow from $72.53 million in 2023 to $124.66 million in 2024, representing a growth rate of 71.85%. The Operating Cash Flow to Net Income Ratio is negative due to negative net income, but Operating Cash Flow remains positive at $204 million. The cash flow statement illustrates strong cash generation capacity despite profitability issues.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.38B	2.26B	2.28B	1.32B	1.27B
	Gross Profit
824.78M	739.87M	697.76M	491.49M	461.50M
	EBIT
42.96M	22.82M	-8.70M	52.38M	41.81M
	EBITDA
42.96M	253.20M	191.55M	223.46M	194.09M
	Net Income Common Stockholders
-117.69M	-29.66M	-74.29M	103.14M	86.87M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
308.57M	254.72M	213.01M	567.25M	410.78M
	Total Assets
4.20B	4.38B	4.52B	1.88B	1.76B
	Total Debt
1.64B	1.70B	1.65B	45.05M	52.15M
	Net Debt
1.33B	1.45B	1.44B	-507.78M	-343.95M
	Total Liabilities
2.24B	2.26B	2.43B	264.71M	261.43M
	Stockholders Equity
1.97B	2.12B	2.09B	1.62B	1.50B
Cash Flow		Free Cash Flow
124.66M	72.53M	-161.46M	186.37M	122.36M
	Operating Cash Flow
204.03M	166.20M	-62.13M	267.54M	222.75M
	Investing Cash Flow
-88.96M	-87.95M	-1.91B	-90.69M	-98.14M
	Financing Cash Flow
-55.80M	-35.98M	1.64B	-16.87M	-40.00K

ICU Medical Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 130.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 130.75 is below the 20-day moving average (MA) of 137.83, below the 50-day MA of 140.45, and below the 200-day MA of 158.06, indicating a bearish trend. The MACD of -1.07 indicates Positive momentum. The RSI at 41.41 is Neutral, neither overbought nor oversold. The STOCH value of 15.55 is Positive, 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
HAE	69 Neutral	$3.46B	20.18	18.83%	―	8.14%	2.55%
ICUI	68 Neutral	$3.32B	―	-4.62%	―	7.19%	-56.19%
HOLX	66 Neutral	$12.58B	23.15	11.77%	―	1.66%	21.95%
MASI	58 Neutral	$8.41B	116.65	-23.93%	―	-0.12%	-713.82%
TFX	58 Neutral	$5.61B	39.98	3.48%	1.07%	0.29%	-48.98%
Sector *	53 Neutral	$5.24B	3.07	-43.58%	2.80%	16.87%	-0.11%
QDEL	52 Neutral	$2.20B	―	-10.59%	―	-3.18%	81.18%

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.