Welcome to our dedicated page for ICU Medical news (Ticker: ICUI), a resource for investors and traders seeking the latest updates and insights on ICU Medical stock.
ICU Medical Inc. (NASDAQ: ICUI) is dedicated to creating connections in healthcare. Headquartered in San Clemente, California, the company is a leader in designing and manufacturing some of the world's safest, most reliable medical devices and systems for infusion therapy, oncology, and critical care applications. ICU Medical’s extensive product line includes needle-free vascular access devices, custom infusion systems, closed delivery systems for hazardous drugs, advanced sensor catheters, and hemodynamic monitoring systems.
Founded on the principle of improving patient outcomes, ICU Medical's products help prevent bloodstream infections and protect both patients and healthcare workers from exposure to infectious diseases and hazardous drugs. The company has significantly expanded its market presence through strategic acquisitions, including Hospira Infusion Systems from Pfizer in 2017 and Smiths Medical from Smiths Group in 2022.
ICU Medical operates through three major segments: consumables, infusion systems, and vital care, contributing 43%, 28%, and 29% of consolidated revenue respectively. The company primarily serves the U.S. market, which accounts for over 63% of its sales. Their commitment to safety and quality ensures essential human and emotional connections between patients and caregivers, enhancing clinical experiences and overall quality of care.
Recent achievements underscore ICU Medical's robust financial performance. For the second quarter of 2023, the company reported revenues of $549.3 million with a GAAP gross profit of $192.3 million, marking a significant improvement in gross margin to 35% from the previous year’s 30%. Despite a GAAP net loss of $9.9 million, the adjusted diluted earnings per share were noted at $1.88, marking an increase from $1.37 year-over-year. The third-quarter results continued this positive trend with revenue reaching $553.3 million, though GAAP net income was recorded at $7.2 million.
For fiscal year 2023, ICU Medical has provided guidance, expecting GAAP net losses to range between $59 million and $38 million, alongside a forecasted adjusted EBITDA between $375 million and $405 million. The company's strategic focus remains on integrating acquisitions and enhancing operational efficiencies to drive future growth.
ICU Medical is not only a significant player in the medical device industry but also a beacon of innovation and quality, continually striving to meet the evolving needs of healthcare providers and patients globally.
ICU Medical (Nasdaq:ICUI) announced its third quarter 2021 earnings release will occur on November 3, 2021, at approximately 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET, accessible via phone at (877) 407-3982 or through a webcast on the company's website. ICU Medical specializes in infusion therapy and critical care products, including IV smart pumps and safety software. The webcast will also be available for replay.
ICU Medical has announced its commitment to acquire Smiths Medical, expanding its infusion therapy capabilities with estimated combined revenues of $2.5 billion. The deal includes 2.5 million newly issued shares valued at $500 million and $1.85 billion in cash, alongside certain liabilities. Smiths will hold a 10% stake in ICU Medical post-transaction, with a board seat contingent on stock ownership. The acquisition is subject to regulatory approvals and is anticipated to close in H1 2022, strengthening ICU Medical's market position and enhancing customer service.
ICU Medical has announced a voluntary recall of one lot (2,112 units) of Aminosyn II, 15% due to visible particulate matter. This recall, effective nationwide, was initiated after fibers and proteinaceous material were detected in retain samples during routine inspections. The recalled product could pose health risks, including inflammation or severe blood clots. To date, no adverse events have been reported. The product is intended for nutritional support in patients unable to tolerate oral intake. Customers are advised to cease use and return the product.
ICU Medical reported second quarter 2021 revenue of $321.7 million, up from $303.4 million a year earlier. Gross profit rose to $123.5 million, with a gross margin of 38%, compared to 35% in Q2 2020. Net income was $28.4 million or $1.31 per diluted share, increasing from $18.9 million or $0.88 per share in the prior year. The company updated its 2021 guidance, adjusting expected adjusted EBITDA to $250 million to $260 million and adjusted diluted EPS to $6.80 to $7.20.
ICU Medical (Nasdaq:ICUI) will release its second quarter 2021 financial results on August 4, 2021, at approximately 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET, accessible at (866) 248-8441 or via webcast on the company's website. ICU Medical specializes in innovative medical products for infusion therapy and critical care applications, with a comprehensive portfolio including IV smart pumps and cardiac monitoring systems. For more information, visit www.icumed.com.
ICU Medical, Inc. (Nasdaq:ICUI) reported its first-quarter 2021 financial results, revealing revenues of $318.0 million, down from $328.6 million in Q1 2020. The GAAP gross profit for the quarter fell to $112.7 million, yielding a 35% gross margin, compared to 37% the previous year. Despite this decline, GAAP net income increased to $23.7 million or $1.09 per diluted share, up from $16.8 million or $0.78 per diluted share in Q1 2020. Adjusted diluted EPS decreased to $1.62 from $1.81.
ICU Medical, Inc. (Nasdaq:ICUI) announced its first quarter 2021 earnings release scheduled for May 6, 2021, at 4:00 p.m. ET, followed by a conference call at 4:30 p.m. ET. The call can be accessed via phone or streamed through the Company’s website. ICU Medical specializes in innovative medical products for infusion therapy and critical care, including IV smart pumps and cardiac monitoring systems. For more information, visit www.icumed.com.
ICU Medical, Inc. (Nasdaq:ICUI) will engage in a virtual fireside chat during the KeyBanc Life Sciences & MedTech Investor Forum on March 23, 2021, at 7:45 a.m. PT (10:45 a.m. ET). The chat will be streamed live on the company's website, and a replay will also be available. ICU Medical specializes in innovative medical products for infusion therapy and critical care, including IV smart pumps and safety software. The event aims to provide insights into the company’s advancements and market position.
ICU Medical (Nasdaq:ICUI) announced its fourth quarter 2020 financial results, reporting revenues of $320.5 million, up from $315.5 million year-over-year. The GAAP gross profit rose to $119.9 million with a gross margin of 37%. Net income reached $26.1 million or $1.21 per diluted share, compared to $20.6 million or $0.96 per share in Q4 2019. Adjusted diluted EPS decreased to $1.77 from $1.94. For 2021, the company projects adjusted EBITDA between $245 million and $265 million, and adjusted diluted EPS of $6.50 to $7.20.
ICU Medical, Inc. (Nasdaq:ICUI) announced its participation at the Raymond James 42nd Annual Institutional Investors Conference, taking place virtually from March 1-3, 2021. The company’s management will deliver a presentation on March 1, 2021, at 1:40 p.m. PST (4:40 p.m. EST). Investors can access the live webcast on the company's website under the Investors tab and the Event Calendar tab, with a replay available afterward. ICU Medical specializes in innovative medical products for infusion therapy and critical care applications.
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