ICU Medical (NASDAQ:ICUI) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

ICU Medical (NASDAQ:ICUI) posted its quarterly earnings results on Thursday. The medical instruments supplier reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.23, FiscalAI reports. ICU Medical had a negative net margin of 0.32% and a positive return on equity of 7.71%. The business had revenue of $535.94 million during the quarter, compared to the consensus estimate of $541.20 million. During the same period in the previous year, the firm posted $2.11 earnings per share. ICU Medical’s revenue for the quarter 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 Up 3.6%

ICUI traded up $5.39 during trading hours on Friday, hitting $155.13. 242,721 shares of the company’s stock were exchanged, compared to its average volume of 261,678. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -501.11 and a beta of 0.79. ICU Medical has a 1-year low of $107.00 and a 1-year high of $164.35. The stock’s 50-day moving average is $149.22 and its two-hundred day moving average is $135.69. The company has a quick ratio of 1.19, a current ratio of 2.45 and a debt-to-equity ratio of 0.62.

Institutional Trading of ICU Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in ICU Medical by 11.6% during the second quarter. Smartleaf Asset Management LLC now owns 969 shares of the medical instruments supplier’s stock valued at $128,000 after purchasing an additional 101 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of ICU Medical during the 2nd quarter worth approximately $177,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of ICU Medical in the 4th quarter valued at approximately $203,000. Panagora Asset Management Inc. acquired a new stake in shares of ICU Medical in the 4th quarter valued at approximately $205,000. Finally, Janney Montgomery Scott LLC acquired a new position in ICU Medical during the fourth quarter worth $216,000. 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 topped expectations — ICU reported $1.91 EPS versus the consensus $1.68, beating estimates and showing better-than-feared profitability for the quarter. Zacks: Q4 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Company raised FY2026 EPS guidance to $7.75–$8.45, above Street consensus (~$7.41) — the stronger full-year outlook is the primary bullish catalyst driving the share move. GlobeNewswire: Q4 Results & FY2026 Guidance
• Positive Sentiment: Analyst support — Piper Sandler reiterated a Buy rating, which can amplify positive investor reaction to the beat and guidance. Globe and Mail: Piper Sandler Rating
• Neutral Sentiment: Company hosted a call and released a transcript/slides — management commentary (growth drivers, margin assumptions) will be important for validating the guidance. Transcript and highlights are available. Seeking Alpha: Earnings Call Transcript Yahoo Finance: Call Highlights
• Neutral Sentiment: Short-interest data reported is effectively negligible/ambiguous (shows zero), so it does not appear to be driving the move. (Report flagged but not meaningful.)
• Negative Sentiment: Revenue missed the consensus — Q4 sales were ~$535.9M vs. ~$541.2M expected and revenue declined ~14.1% year-over-year, indicating demand weakness that could pressure future topline growth. MarketBeat: Q4 Results
• Negative Sentiment: Profitability mixed — while EPS beat, EPS and margins are down from the prior year (FY Q4 EPS $2.11 a year ago vs. $1.91) and net margin was slightly negative, highlighting near-term margin pressure. Zacks: Key Metrics vs Estimates

Analysts Set New Price Targets

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