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Wednesday, December 29, 2010

ICU Medical (NASDAQ:ICUI) Faces Weak Flu Season, Gross Margin Pressures

ICU Medical (NASDAQ:ICUI) had its EPS estimates lowered by Soleil Securities, citing a weak flu season and pressures on gross margins.

Soleil said, "Bottom-Line: We're adjusting 4Q:10 estimates for ICU-Medical (ICUI-Buy) on: 1) Short-term gross margin pressure from a new manufacturing facility. 2) A weak flu season, which might negatively impact product sales...We've lowered our 4Q:10E sales to $71.5MM (previous $72.5MM) on lower consumable sales. We've lowered our 4Q:10E EPS to $0.55 (previous $0.58)--$0.01 from lower sales and $0.02 on lower gross margins. Introducing CY12 sales/EPS of $328.2MM/$2.45."

Soleil Securities maintains a "Buy" rating on ICU Medical, which closed Tuesday at $36.75, down $0.15, or 0.41 percent. Soleil lowered their price target on the company from $43 to $42.

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