moneyheap
ICUI · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is ICU Medical Inc (ICUI) stock moving?
ICU Medical reported Q3 2026 results on Nov 5 that beat consensus on both lines: adjusted EPS of $2.44 versus a $2.14 estimate and sales of $560.4M versus $552.1M, with net income of $26.8M marking a return to profitability year over year. The company affirmed FY2026 adjusted EPS guidance of $8.60-$9.00, which brackets the $8.74 estimate, and said it expects results at the high end of the range. GAAP EPS guidance of $2.89-$3.29 sits below the $3.47 estimate, a point that cuts against the otherwise positive picture. Two analysts raised targets on Nov 6: KeyBanc to $189 and Piper Sandler to $200, both keeping Overweight ratings. The stock moved from a close of $161.83 on Nov 3 to $172.62 on Nov 4 (about +6.7%) on volume of 446,977, against a typical 150,000-330,000 range earlier in October. Volume stayed elevated through Nov 5-6 (about 530,000 and 465,000), then the price kept rising to $182.11 on Nov 10 with a high of $183.03. That is roughly 12% above the Nov 3 close and now close to the KeyBanc target, with some room below Piper Sandler's $200. Upcoming catalyst: management presents at the Jefferies conference on Nov 18. Limited evidence beyond the earnings cycle makes the six-month view less certain.
News behind the analysis
- ICU Medical to Present at 2026 Jefferies Global Healthcare ConferenceICU Medical's management team will present at the 2026 Jefferies Global Healthcare Conference in London on November 18, 2026.
- Keybanc Maintains Overweight on ICU Medical, Raises Price Target to $189KeyBanc kept its Overweight rating on ICU Medical and raised its price target to $189.
- Piper Sandler Maintains Overweight on ICU Medical, Raises Price Target to $200Piper Sandler kept its Overweight rating on ICU Medical and raised its price target to $200.
- ICU Medical Announces Third Quarter 2026 Financial ResultsICU Medical reported third-quarter 2026 revenue of $560.4 million and net income of $26.8 million, a return to profitability versus the prior-year period, and reaffirmed FY2026 guidance, expecting results at the high end of the range.
- ICU Medical Q3 2026 Earnings Call TranscriptThe transcript of ICU Medical's third-quarter 2026 earnings call, held on Thursday, has been published.
- ICU Medical Affirms FY2026 GAAP EPS Guidance of $2.89-$3.29 vs $3.47 EstICU Medical affirmed FY2026 GAAP EPS guidance of $2.89-$3.29, below the $3.47 analyst estimate.
- ICU Medical Affirms FY2026 Adj EPS Guidance of $8.60-$9.00 vs $8.74 EstICU Medical affirmed FY2026 adjusted EPS guidance of $8.60-$9.00, bracketing the $8.74 analyst estimate.
- ICU Medical Q3 Adj. EPS $2.44 Beats $2.14 Estimate, Sales $560.439M Beat $552.071M EstimateICU Medical posted third-quarter adjusted EPS of $2.44, above the $2.14 estimate, and sales of $560.4 million, above the $552.1 million estimate.
About ICU Medical Inc
ICU Medical is a California-based maker of hospital products for delivering fluids and drugs into patients' veins, including IV pumps, needle-free connectors and tubing sets, plus critical-care items like monitoring and respiratory products. It got much bigger by buying Pfizer's Hospira infusion business in 2017 and Smiths Medical in 2022. More recently it sold a majority stake in its IV solutions business to a joint venture with Otsuka, making it a more focused device and consumables company.
How it makes money
It sells to hospitals, alternate-site and home-care providers in three main areas. Consumables are the biggest: single-use IV sets, needle-free connectors and vascular access products. Infusion Systems covers IV and syringe pumps and the software that runs them. Vital Care includes critical-care, monitoring and respiratory products. After the IV solutions divestiture, revenue runs at roughly $530–550 million a quarter (about $2.2 billion a year).
What usually moves ICUI
- Hospital procedure volumes and capital budgets
- FDA clearances and recalls for infusion pumps (e.g., Medfusion syringe pump)
- Smiths Medical integration and margin improvement
- Debt paydown and leverage
- Tariffs, resin and supply-chain costs