ICU Medical (NSDQ:ICUI) shares took a slight hit today on fourth-quarter results that topped the consensus forecast.
The San Clemente, Calif.–based infusion therapy and critical care technology developer posted profits of $26.1 million, or $1.21 per share, on sales of $320.5 million for the three months ended Dec. 31, 2020, for a 2.7% bottom-line gain on sales growth of 1.6%.
Adjusted to exclude one-time items, earnings per share were $1.77, 26¢ ahead of Wall Street, where analysts were looking for sales of $320.5 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 now expects to log adjusted EPS of between $6.50 and $7.20 for the full year 2021.
ICUI shares were down -2.4% at $212.91 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up virtually unchanged.