ICU Misses Top-Line Forecasts but Profitability Continues to Hold Up
ICU Medical's first-quarter results continue the firm's pattern of volatile top-line performance, this time falling somewhat short of our and consensus expectations. As we update our model, we'll likely leave our $248 fair value estimate in place, as accounting for the cash flows received since our last update largely offsets a modestly lower earnings outlook. On a positive note, the firm continues to defend its bottom line, with adjusted earnings consistent with our model resulting in meaningfu...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.
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