Piper Jaffray Remains Sidelined on ICU Medical (ICUI) Following Strong 2Q - PT to $119

August 9, 2016 8:38 AM EDT
Get Alerts ICUI Hot Sheet
Price: $134.05 -0.52%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 22 | New: 54
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Piper Jaffray reiterated a Neutral rating on ICU Medical (NASDAQ: ICUI), and raised the price target to $119.00 (from $115.00), following the company's 2Q earnings report. ICUI reported revenues of $96.7M, ahead of the consensus of $89.9M. Adjusted EPS of $1.15 also outperformed expectations, compared to $1.05 consensus.

Analyst Brooks West commented, "ICU Medical reported 2Q16 revenues of $96.7M vs. consensus of $89.9M, while Adj. EPS of $1.15 significantly outperformed expectations of $1.05 on flow through from the top line beat. Management also updated its FY16 guidance and now expects EPS of $4.45-$4.60 versus its prior guidance of $4.34-$4.46 (consensus $4.43). OEM sales totaled $36M with Hospira now representing 34% of total company revenue, down ~100bp y/y. ICUI now has ~$401M in cash on its balance sheet (and no debt). While the continued revenue and bottom line outperformance remain impressive we remain on the sidelines until we gain more clarity around the binary customer risk with Hospira. Reiterate Neutral, raising PT to $119 ($115 prior)."

For an analyst ratings summary and ratings history on ICU Medical click here. For more ratings news on ICU Medical click here.

Shares of ICU Medical closed at $117.41 yesterday.



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Analyst EPS Change, Analyst EPS View, Analyst PT Change

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