Needham Reiterates Hold Rating on ICU Medical (ICUI)

Needham analyst Mike Matson reiterated a Hold rating on ICU Medical (NASDAQ: ICUI).

The analyst commented: "ICUI's 1Q25 revenue, EBITDA, and EPS beat consensus. ICUI's IV Solutions joint venture (JV) with Otsuka was completed on 5/1/25. In terms of tariffs, ICUI expects a $25-30M tariff impact mostly in 2H25 but expects more favorable currency rates and mitigation efforts to reduce this to $5-10M of unmitigated residual impact. Management maintained their prior 2025 EBITDA and EPS guidance but now expects to be at the low end of the ranges due to tariffs. Revenue growth improved to 10% CC in 1Q25 from 7% CC in 4Q24, driven by Consumables and Infusion Systems. ICUI's gross margin was up 70 bps Y/Y but down 20 bps sequentially. And its adjusted EBITDA margin was up 210 bps Y/Y, but down 50 bps sequentially. We maintain our Hold rating given ICUI's valuation, which is well above peers with similar organic growth rates."

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 $142.87 yesterday.

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