ICU Medical (ICUI) Blows Past Estimates, Raises Forecasts

ICU Medical, Incorporated ICUI on Monday after the market closed released financial results that easily beat Wall Street expectations. ICU Medical, Inc (ICUI) reported that its 2nd quarter net income surged to $7.7 million, or 56 cents per share, up from $5.7 million, or 38 cents per share, a year earlier. The company's revenue growth was also strong, rising 29% to $68.9 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 37 cents per share, on revenue of $65.18 million. Shares of ICUI plunged 4.68% on Friday to $32.99, but they climbed back up 4.18% to $34.37 during the Monday trading session. Analysts covering the stock have a consensus price target of $41.17 per share. ICU Medical also raised its full year earnings forecast to a range of $1.85 to $1.92 per share and its full year revenue forecast to a range of $270 million to $275 million. Read more from Benzinga's Company news.