Medical device company ICU Medical (NASDAQ: ICUI) will be reporting earnings this Thursday after market hours. Here’s what you need to know.
ICU Medical beat analysts’ revenue expectations last quarter, reporting revenues of $547.9 million, flat year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS 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 grow 3.5% year on year, a reversal from the 8.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. ICU Medical has a history of exceeding Wall Street’s expectations.
Looking at ICU Medical’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Merit Medical Systems delivered year-on-year revenue growth of 8.4%, beating analysts’ expectations by 1.5%, and Intuitive Surgical reported revenues up 21.7%, topping estimates by 5.3%. Merit Medical Systems traded down 7.7% following the results while Intuitive Surgical was also down 2.3%.
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 2.8% on average over the last month. ICU Medical’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $193.38 (compared to the current share price of $161.73).
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