ICU Medical Inc

ICUI: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$883.00	Rwwy	Tsgnrtsc

ICU Medical Earnings: Steady Progress Toward Quality Remediation and Smiths Integration

Julie Utterback ,

May 8, 2024

No-moat ICU Medical’s first-quarter results came slightly below our expectations. Nevertheless, we are maintaining our $161 fair value estimate, as we see steady progress with the company’s quality remediation and integration initiatives. We think the company is on track to fully integrate with Smiths by the end of 2025, which should bring meaningful margin improvement in the long term.

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