Dougherty & Co Starts ICU Medical (ICUI) at Buy; Stable Growth for Must-Need Medical Consumables Manufacturer
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Price: $182.98 -0.07%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co initiates coverage on ICU Medical (NASDAQ: ICUI) with a Buy. PT $53.00.
Dougherty analyst says, "We like ICU Medical’s staple of must-need medical consumables including CLAVE connectors, Custom IV Products, and Critical Care products. We’re modeling CY11-12 sales of $305.7MM (Street $303.3MM) and $330.1MM (Street $323.5MM), which growing +8.0-Y/Y. Moreover, we’re modeling CY11-12 EPS of $2.55 (Street $2.50) and $2.70 (Street $2.66), which is growing +6.0%-Y/Y...We see ICU Medical’s international business (~26% total sales) as a key growth driver for the company, growing at a robust rate (+22%-Y/Y)."
"ICU Medical has a solid balance sheet with $119MM in cash and equivalents (~$8.60/share) and no outstanding debt. We see this strong cash position as both a source of competitive advantage and shareholder value creation, with potential deployment for M&A opportunities (i.e., small tuck-ins), share buy-backs (i.e., $30MM remaining on authorization), and reinvestment in the business (i.e., ~$15MM/annual cap-ex, ~2-3% sales R&D, ~27% sales SG&A)."
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 $44.43 yesterday.
Dougherty analyst says, "We like ICU Medical’s staple of must-need medical consumables including CLAVE connectors, Custom IV Products, and Critical Care products. We’re modeling CY11-12 sales of $305.7MM (Street $303.3MM) and $330.1MM (Street $323.5MM), which growing +8.0-Y/Y. Moreover, we’re modeling CY11-12 EPS of $2.55 (Street $2.50) and $2.70 (Street $2.66), which is growing +6.0%-Y/Y...We see ICU Medical’s international business (~26% total sales) as a key growth driver for the company, growing at a robust rate (+22%-Y/Y)."
"ICU Medical has a solid balance sheet with $119MM in cash and equivalents (~$8.60/share) and no outstanding debt. We see this strong cash position as both a source of competitive advantage and shareholder value creation, with potential deployment for M&A opportunities (i.e., small tuck-ins), share buy-backs (i.e., $30MM remaining on authorization), and reinvestment in the business (i.e., ~$15MM/annual cap-ex, ~2-3% sales R&D, ~27% sales SG&A)."
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 $44.43 yesterday.
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