ICU Medical (ICUI) AI Stock Analysis

• Market Cap: $3.32B
• Dividend Yield: N/A
• Average Volume (3M): 221.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.95
• Revenue Growth: 7.19%
• EPS Growth: -56.19%
• Country: US
• Employees: 15,000
• Sector: Healthcare
• Sector Strength: 47
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 1.72
• Shares Outstanding: 24,611,937
• 10 Day Avg. Volume: 264,179
• 30 Day Avg. Volume: 221,815
• PEG Ratio: 0.31
• Price to Book (P/B): 1.80
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -23.28
• Enterprise Value/Market Cap: 1.57
• Enterprise Value/Revenue: 0.55
• Enterprise Value/Gross Profit: 6.12
• Enterprise Value/Ebitda: 4.11
• 1Y Price Target: $189.00
• Price Target Upside: 38.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 66 Neutral
• Price Target: $147.00 ▲(7.95%Upside)

ICU Medical's overall stock score is driven by solid financial performance and positive earnings call highlights, such as revenue growth and debt repayment. However, valuation concerns due to net losses and mixed technical indicators temper the score. The company faces challenges from tariffs and regulatory issues, which could impact future performance.

Positive Factors

Earnings Performance

ICUI's 1Q25 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.

Product Development

ICUI is seen as a unique self-help story with strong business fundamentals and a new product, expected to generate significant earnings growth.

Negative Factors

Profitability

Margin outlook was addressed, suggesting some concerns about profitability.

Tariffs

ICUI expects a $25-30M tariff impact mostly in 2H25 but expects more favorable currency rates and mitigation efforts to reduce this to $5-10M of unmitigated residual impact.

Valuation Concerns

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 healthcare company specializing in the development, manufacturing, and sale of innovative medical devices and systems for infusion therapy, oncology, and critical care applications. The company's core products include IV therapy systems, needle-free connectors, closed system transfer devices, and other related accessories. ICU Medical serves hospitals, healthcare facilities, and other medical institutions across the globe, focusing on improving patient safety and enhancing clinical outcomes.

How the Company Makes Money

ICU Medical generates revenue primarily through the sale of its medical devices and systems to healthcare providers, hospitals, and other medical institutions. Its key revenue streams include the sale of intravenous therapy systems, needle-free connectors, and closed system transfer devices, which are essential for safe and effective medication delivery. Additionally, the company benefits from long-term contracts and partnerships with hospitals and healthcare facilities, ensuring a steady demand for its products. Other factors contributing to its earnings include innovations in product design that meet regulatory standards and enhance patient safety, as well as strategic acquisitions that expand its product portfolio and market reach.

ICU Medical Financial Statement Overview

Summary

ICU Medical demonstrates growth and resilience in revenue and cash flow, indicating operational strength in the medical instruments sector. However, consistent net losses highlight a need for strategic adjustments to enhance profitability and shareholder value. Debt levels are rising, but not yet alarming, provided the company addresses its profit margins.

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	2.42B	2.38B	2.26B	2.28B	1.32B	1.27B
Gross Profit	849.65M	824.78M	739.87M	697.76M	491.49M	461.50M
EBITDA	245.07M	42.96M	253.20M	191.55M	223.46M	194.09M
Net Income	-93.69M	-117.69M	-29.66M	-74.29M	103.14M	86.87M
Balance Sheet
Total Assets	4.18B	4.20B	4.38B	4.52B	1.88B	1.76B
Cash, Cash Equivalents and Short-Term Investments	289.70M	308.57M	254.72M	213.01M	567.25M	410.78M
Total Debt	1.54B	1.64B	1.70B	1.65B	45.05M	52.15M
Total Liabilities	2.20B	2.24B	2.26B	2.43B	264.71M	261.43M
Stockholders Equity	1.99B	1.97B	2.12B	2.09B	1.62B	1.50B
Cash Flow
Free Cash Flow	131.93M	124.66M	72.53M	-161.46M	186.37M	122.36M
Operating Cash Flow	209.57M	204.03M	166.20M	-62.13M	267.54M	222.75M
Investing Cash Flow	-87.91M	-88.96M	-87.95M	-1.91B	-90.69M	-98.14M
Financing Cash Flow	-85.29M	-55.80M	-35.98M	1.64B	-16.87M	-40.00K

ICU Medical Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 136.18
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICUI, the sentiment is Neutral. The current price of 136.18 is above the 20-day moving average (MA) of 132.00, above the 50-day MA of 134.29, and below the 200-day MA of 154.89, indicating a neutral trend. The MACD of -0.71 indicates Negative momentum. The RSI at 54.81 is Neutral, neither overbought nor oversold. The STOCH value of 81.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ICUI.

ICU Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HAE	79 Outperform	$3.67B	22.99	18.83%	―	3.95%	44.09%
HOLX	70 Outperform	$14.56B	27.57	11.77%	―	1.66%	21.95%
ICUI	66 Neutral	$3.32B	―	-4.62%	―	7.19%	-56.19%
MASI	63 Neutral	$9.16B	116.65	-23.93%	―	-0.12%	-713.82%
TFX	58 Neutral	$5.38B	38.40	3.48%	1.12%	0.29%	-48.98%
QDEL	53 Neutral	$2.04B	―	-10.59%	―	-3.18%	81.18%
Sector *	51 Neutral	$7.55B	0.30	-61.90%	2.27%	17.11%	1.58%

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.