Market Overview

UPDATE: Piper Jaffray Initiates ICU Medical at Overweight on Tailwinds From Healthcare Reform

Share:

Piper Jaffray initiated coverage on ICU Medical (NASDAQ: ICUI) with an Overweight rating and a $70.00 price target.

Piper Jaffray commented, "Revenues in 2012 were $317M (up 6.2% constant currency), with operating margin of 19.3% (up 190 bp y/y) and non-GAAP EPS of $2.80 (up 8.3% y/y). Hospira (HSP) is a major OEM customer, representing ~40% of 2012 revenues. ICUI has over $15/share in cash and securities, and holds no debt. We believe that as revenue growth re-accelerates in 2013, multiple expansion will drive 20%+ shareholder return over the next year. Our price target of $70/share is based on 22x our 2013 EPS estimate of $2.78, plus $9/per share of non-working capital cash."

ICU Medical closed at $57.40 on Wednesday.

Latest Ratings for ICUI

DateFirmActionFromTo
Aug 2019DowngradesStrong BuyOutperform
Mar 2019MaintainsStrong BuyStrong Buy
Oct 2017Initiates Coverage OnSector Weight

View More Analyst Ratings for ICUI
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Initiation Analyst Ratings

 

Related Articles (ICUI)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
IPARDA DavidsonMaintains76.0
BSBRUBSUpgrades
TGTMorgan StanleyMaintains130.0
VCMorgan StanleyMaintains52.0
URBNMorgan StanleyMaintains32.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Piper Jaffray Downgrades PetSmart to Neutral;l Growth Set to Decelerate

UPDATE: Piper Jaffray Initiates Angie's List at Overweight on Scalability with Local Commerce Leverage