ICU MEDICAL INC/DE
In the published model solve dated 2026-Q2, anchored at $175.10, ICU MEDICAL INC/DE (ICUI) is priced for +16.4% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• ICU Medical makes infusion pumps, the consumable sets that run with them, and related critical-care products, and the entire investment case rests on whether margins recover from the integration of its large acquisitions. • The decisive metric is gross margin: it expanded to about 39% in the first quarter of 2026 from 35% a year earlier, evidence the turnaround is taking hold even as reported revenue fell 12% on a prior divestiture. • The defining risk is the balance sheet: long-term debt of a
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265 institutional managers reported holding ICUI in 13F filings for the quarter ended 2026-03-31. 29 opened new positions that quarter. Held by BlackRock, Vanguard Group, Janus Henderson, among others. On the short side, 1.8M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (6.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ICUI's share count grew 16.8% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ICUI over the trailing three years: 2025: 4 buys totaling $2.63M. 12 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ICUI's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-10 | +13.3% | -13.7% |
| 2023-08-08 | -15.2% | -16.6% |
| 2023-11-07 | -17.8% | +13.8% |
| 2024-02-28 | +6.5% | -12.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ICUI's latest 8-K filings: 2026-08-06 (items 2.02, 9.01); 2026-05-18 (items 5.03, 5.07, 9.01); 2026-05-07 (items 2.02, 9.01); 2026-02-20 (items 5.02, 9.01); 2026-02-19 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.