Reading ICUI? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track ICUI free→
ICUI
ICU MedicalNASDAQHealth CareMedical Instruments & SuppliesSnapshot 2026-06-12
Intact
$142.20-0.46%
Close 2026-06-12 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
Recent financial performance is strong, and earnings quality is robust, cash backs up reported profits. However, the sector backdrop is a headwind, and risk is moderate. Peer multiples imply a price about 13% above where it trades (it looks cheap on this basis); the read is fair, quality intact. Key factors to watch include guidance changes and the performance of sector bellwethers like ISRG, MDLN, and BDX. This read is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NASDAQ
- Sector
- Health Care
- Industry
- Medical Instruments & Supplies
- Market cap
- $3.55B
- Employees
- —
- IPO date
- 1996-08-14
- Next earnings
- 2026-08-06
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 8 valuation methods, at three horizons. Current price $142.20. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryfair
$162.99consensus
Range $111.27 – $184.46
vs price: -13% below
Method agreement — · 8 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$223.02consensus
Range $214.76 – $243.14
vs price: -36% below
Method agreement — · 5 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peershigh confidence
At $142 ICUI trades at 18× p/e, below its 20× p/e peer median. Our $163 fair value sits above the price; high confidence. Analysts: $163–$180. Not investment advice.
Multiple (P/E)
17.8x
peer 20.0x · own history 20.7x
Premium
0.9x peer
0.9x its own history
Growth the price needs
-13%
our forecast -11%
Our fair value
$162.99
range $113.65 – $184.46
Analyst range(a guide on our number, not a target)Our number is in the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
fairfair — quality intact12-month view
What's priced inJustified
The price implies about 13% below a flat-multiple fair value, in line with our forecast of about -11%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
strongOperating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated strong grew net income 59% of the time over the next year (vs 52% for the rest of the cohort, n=2344).
89th pctl · Health Care
Earnings quality
robustOver the trailing year it converted 3.61x of net income into operating cash flow. Historically, Health Care names rated robust grew net income 60% of the time over the next year (vs 48% for the rest of the cohort, n=1703).
87th pctl · Health Care
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
Management & capital allocation
Earnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Bullish6 analysts, 100% Buyfor period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $1.91 → $1.91 (+0.0% / 30d). 2 raised, 3 cut, 6 covering analysts.
Rating actions
1 upgrade, 0 downgrades / 30d, 0 maintained. 100% of analysts rate Buy.
Price target activity
1 PT revisions / 30d. Avg target 22.2% above current price.
Sector context
Intermediate · WeeklySector phase: health care is in maturing, with decelerating (~0.5 years in phase).
Sector regime (90d momentum): headwind.Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: strong
- Capital allocation
- neutral
- Earnings discipline
- strong
- Margin discipline
- strong
- Balance sheet
- strong
- Post-call reaction
- neutral
A guidance track record builds as the company issues and delivers on guidance.
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$154.
How much price usually moves either way.
On a bad day, this stock has moved -$354.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $2,718.
Deepest peak-to-trough drop in the last year.
moderateas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideHigh confidenceQuartersactive 7d
Watch for cash from operations exceeding $20 million in Q2
Why it matters: More cash from operations helps ICU Medical's finances and growth plans.
What confirms / what disproves
Confirms:Cash from operations in Q2 exceeds $20 million.
Disproves:Cash from operations in Q2 falls below $15 million.
Management priorities
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
- 2026-06-1219h agoYahoo! Finance
Competitors' issues may enhance ICU's market position.
Strongly reinforcesUnconfirmed report
This sector is also watching
- Watch for Health Care revenue growth dropping below 8% YoY
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If sector bellwethers like ISRG, MDLN, and BDX keep beating earnings and guiding higher, the Healthcare sector momentum should keep lifting ICUI and other Healthcare names. Worth watching these names for early signals.
- If ICUI raises forward guidance on the next earnings call (currently NEW as of 2026-05-07), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for ICUI and other Healthcare names, since rate-sensitive parts of the market tend to rally when the Fed eases.
Downside triggers
- If ICUI cuts guidance on the next call (currently NEW as of 2026-05-07), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like ISRG, MDLN, and BDX start missing or guiding lower, the Healthcare tailwind helping ICUI and other Healthcare names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-071mo agoItem 2.02
Results of Operations and Financial Condition On May 7, 2026, ICU Medical, Inc. issued a press release announcing its financial results for the first quarter of 2026. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated in
Earnings preannouncement—
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
+5.0 vs last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.