ICU Medical (NASDAQ:ICUI) shares rose today on fourth-quarter results that came in ahead of the consensus forecast.
The San Clemente, California–based infusion therapy, oncology, and critical care tech company posted profits of $19.9 million, or 91¢ per share, on sales of $340.5 million for the three months ended Dec. 31, 2021, for a 23.8% bottom-line slide on sales growth of 6.3%.
Adjusted to exclude one-time items, earnings per share were $1.82, 18¢ ahead of Wall Street, where analysts were looking for sales of $323.9 million.
“Fourth-quarter results were generally in line with our expectations,” ICU Medical CEO Vivek Jain said in a news release.
ICU Medical said it expects to log adjusted EPS of between $9 and $10.50 for the full-year 2022. The company set its adjusted EBITDA guidance for between $450 million and $500 million. The company’s outlook does not reflect the impact of the pending purchase price allocation for the $2.35 billion acquisition of Smiths Medical completed earlier this year.
Shares of ICUI were up 4.1% at $225.59 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1.1%.