Skip to main content

Market Overview

UPDATE: Piper Jaffray Downgrades ICU Medical Following Q2 Revenues/Earnings Report

Share:

In a report published Friday, Piper Jaffray analyst Thomas J. Gunderson downgraded ICU Medical (NASDAQ: ICUI) from Overweight to Neutral, but raised the price target from $70.00 to $71.00.

In the report, Piper Jaffray noted, “ICUI reported lower than expected revenues and earnings for Q2. The company reported $78.7M (up 1.8% from $77.3M in 2Q12) as compared to our $83.7M, consensus $83.4M, and guidance of $82.0-$84.5M. EPS of $0.48 was well below our $0.67 estimate (consensus was $0.66; guidance was $0.62-$0.67). The main contributor to the miss appeared to be delays in closing orders for products in the Critical Care division. Guidance for the year was lowered by more than the miss and back-end-loaded. We are reducing our rating to a Neutral based on the fundamental valuation having reached our price target, but acknowledge that the stock is likely to trade more on buy-out speculation than quarterly performance.”

ICU Medical closed on Thursday at $74.59.

Latest Ratings for ICUI

DateFirmActionFromTo
Feb 2021Raymond JamesMaintainsOutperform
Feb 2021Raymond JamesMaintainsOutperform
Jan 2021KeyBancMaintainsOverweight

View More Analyst Ratings for ICUI
View the Latest Analyst Ratings

 

Related Articles (ICUI)

View Comments and Join the Discussion!

Posted-In: Piper Jaffray Thomas J. GundersonAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
FSRMorgan StanleyMaintains40.0
NATJefferiesMaintains2.8
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
PSXMizuhoMaintains96.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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