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ICU Medical, Inc. (ICUI) stock is declining today, here’s why

ICU Medical, Inc. (ICUI) decreased by -2.92% at the rate of ‎$‎252.40. ICU Medical, Inc. involves in the progress, manufacture, and sale of advanced medical devices which are used for vascular therapy and critical care applications.

“Best Infection Prevention Products 2021”

On August 2, 202, the company announced that ClearGuard HD Antibacterial Blocking Caps were declared as one of “Best Infection Prevention Products of 2021” by Newsweek and Leapfrog Group.

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ClearGuard HD leads the Newsweek list for the second year, highlighting those products and solutions which are used by leading hospitals to stop the spread of infections within their facilities.

According to news of the company which was published on 12 May 2020, the company got the same achievement in 2020.

Second Quarter 2021 Results

On 4th august of 2021, ICU Medical, Inc. (ICUI) released financial results for the 2nd quarter which ended on June 30, 2021.

Revenue for the second quarter of 2021 was $321.7 million. It is up from $303.4 million in the same period last year.

GAAP gross profit for the second quarter of 2021 was $123.5 million, as compared to $106.3 million in the same time as last year.

GAAP gross margin for the second quarter of 2021 was 38%, while it was 35% in the same period last year.

GAAP net income for the second quarter of 2021 was $28.4 million, or $1.31 per diluted share, as compared to GAAP net income of $18.9 million, or $0.88 per diluted share, for the second quarter of 2020.

Adjusted diluted earnings-per-share for the second quarter of 2021 was $1.88, which is up from $1.65 in the second quarter of 2020.

Additionally, the adjusted EBITDA for Q2 2021 was $66.9 million while it was stood at $58.1 million for Q2 2020.

ICU Medical’s CEO, Vivek Jain, said, “The overall results for the second quarter were according to our expectations.”

Top-Performing Smart Pump EMR-Integrated

2nd of February 2021, ICU Medical, Inc. (ICUI) stated that its Plum 360 smart infusion system is the first smart pump EMR integrated system with the highest performance recognized by KLAS Research, which is the world’s leading medical research company.

Plum 360 smart infusion system also got this award from the same company in 2018, 2019, and 2020 for best performance.

Agreement with Grifols

On August 11, 2020, it was announced that it has entered into a long-term contract with Grifols to assign a full range of non-PVC/non-DEHP IV containers for Sodium Chloride Injection (0.9%), USP to US’s customers.

This new contract will grow ICU Medical’s range of non-PVC/non-DEHP products to include container sizes from 50ml to 1000ml. ICU Medical also plans todistributeGrifos’ Dextrose IV solution after receiving regulatory approval for US sales of these products.

Invests $13 Million

During a visit by Costa Rica President Carlos Alvarado Quesada and dignitaries from different countries, the company announced a $13.2 million investment in a Costa Rica manufacturing plant to memorialize the company’s 20th anniversary of manufacturing operations in the country.

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