ICU Medical's stock soared 6.75% intraday on Friday, following the release of its quarterly earnings report that exceeded analyst expectations.
The company reported adjusted earnings of $1.91 per share for the quarter ended December 31, beating the mean analyst estimate of $1.69 per share. Although revenue fell 13.8% year-over-year to $535.94 million, it still surpassed the expected $530.63 million.
Concurrently, KeyBanc analyst raised the firm's price target on ICU Medical to $180 from $175 while maintaining an Overweight rating. Other analysts also maintained positive ratings, with the current average analyst rating being "buy" and a median 12-month price target of $180, representing significant potential upside from recent levels.