ICU Medical Inc
ICUI: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$428.00 | Nxk | Gbrqydnb |
ICU Medical Earnings: Smiths Integration Challenges Results and Near-Term Outlook
No-moat ICU Medical’s third-quarter results were largely in line with our expectations. Adjusted total sales declined by 6% year over year in constant currency, but gross margin expanded 100 basis points on an adjusted basis. Management attributed the top-line decline to the weak performance of acquired products from Smiths, and we believe the operational glitches related to the Smiths acquisition are mostly short-term.