ICU Medical Set to Generate Strong Free Cash Flow Despite Near-Term Revenue Headwinds
ICU Medical reported a mixed third quarter, with disappointing top-line performance offset by surprisingly resilient expense management. Management bumped its 2018 EBITDA outlook by roughly $10 million and set initial 2019 expectations near $330 million, which fell in line with our forecast. As we make some tweaks to our model, we don't foresee meaningfully changing our $251 fair value estimate for the narrow-moat company.While the headline figure of revenue down 10% versus last year represent...
ICU Medical is an infusion therapy company with a range of product portfolio that includes intravenous (IV) solutions, IV smart pumps, dedicated and nondedicated IV sets and needle free connectors, along with pain management and safety software technology. In addition, the company manufactures automated pharmacy IV compounding systems. The company's product lines include: Infusion Consumables; Infusion Systems, which include infusion pump hardware, IV mediation safety software, and rofessional pservices; IV Solutions, which include IV therapy and diluents and irrigation; and Critical Care, which help clinicians get real-time access to patients' hemodynamic and cardiac status.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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