Medical device company ICU Medical (NASDAQ: ICUI) will be reporting results this Thursday after the bell. Here’s what you need to know.
ICU Medical beat analysts’ revenue expectations last quarter, reporting revenues of $535.9 million, down 13.8% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ full-year EPS guidance estimates.
Is ICU Medical a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ICU Medical’s revenue to decline 13.3% year on year, a reversal from the 8.5% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ICU Medical rarely misses Wall Street’s revenue estimates.
Looking at ICU Medical’s peers in the healthcare equipment and supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Merit Medical Systems delivered year-on-year revenue growth of 7.5%, beating analysts’ expectations by 1.2%, and Intuitive Surgical reported revenues up 23%, topping estimates by 5.8%. Merit Medical Systems traded down 9% following the results while Intuitive Surgical was up 7.2%.
Read our full analysis of Merit Medical Systems’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 6.5% on average over the last month. ICU Medical is down 4.9% during the same time and is heading into earnings with an average analyst price target of $177.50 (compared to the current share price of $117.00).
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