ICU Medical Inc

ICUI: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$218.00	Nbkg	Nqwtkhxt

ICU Medical's Legacy Business Remains Stable While Smiths Medical's Assets Underperform in Q1

Julie Utterback ,

May 10, 2022

Narrow-moat ICU Medical reported solid first-quarter performance from its legacy business, but undesirable results from the recently acquired Smiths Medical. Quarterly results appeared in line with FactSet consensus, and at first glance, we are keeping our fair value estimate intact, although we recognize problems with the Smiths Medical assets could add some uncertainty around near-term cash flows.

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