8. ICU Medical (ICUI) is engaged in the development, manufacture and sale of medical devices used in vascular therapy, oncology and critical care applications.
For first quarter 2011, the company reported 11% year-over-year increase in net sales to $71.5 million from $64.4 million, driven by worldwide demand for Custom Sets, CLAVEs, oncology products and TEGO for the renal dialysis market. Subsequently, net income soared 89.7% to $8.1 million, or 57 cents per share, from $4.3 million, or 30 cents per share, in the year-ago quarter. Cash, cash equivalents, and investment securities increased 14.4% sequentially to $106.8 million from $93.4 million, while the company had no debt.
For full year 2011, the management reaffirmed its previously announced revenue guidance in the range of $295 million-$305 million. It also raised its earnings per share guidance range to $2.30-$2.50 per share, up from the previous guidance of $2.25-$2.45 per diluted share.All the seven analysts covering the stock rate a buy on it. The stock is expected to deliver 12% over the next 12 months with a consensus target price of $49.8, according to analysts polled by Bloomberg. The stock has gained 26% during the past one year.
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