ICU MEDICAL INC/DE
ICUI · Surgical & Medical Instruments & Apparatus · 25.0M shares · +3%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$31M (gross $9M, SBC $41M)
Reference price $132.21 · est. market cap ~$3.3B — last insider sale, 2026-05-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C56Infusion-systems maker near breakeven with declining revenue and thin coverage, but positive FCF.
Strengths
- Positive free cash flow — FCF $92M (87th)
- Adequate liquidity — current ratio 2.4 (41st)
Risks
- Near-breakeven, declining revenue — net margin 0%, revenue -6%, net income -101%
- Thin interest coverage — 0.5
- Integration/quality issues — per 10-K
Notable findings
- No interest coverageInterest coverage 0.46 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 8→9 QoQ (2025-12-31→2026-03-31)
- Insider sellingInsider selling — 3 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$882,242, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
36.8%
Operating margin
1.9%
Net margin
0.0%
Return on equity
0.0%
Return on assets
0.0%
ROIC
1.0%
Revenue growth (QoQ)
-1.9%
Debt / equity
0.6×
Interest coverage
0.5×
Current ratio
2.4×
Free cash flow
$92M
EBITDA
$244M
Tangible book value
-$9M
Stock comp / revenue
2.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-22 | Woolson Daniel | Sell | 2.1K | $132.21 |
| 2026-05-14 | Sanzone Virginia Ruth | Sell | 2.4K | $124.08 |
| 2026-05-13 | Greenberg David C. | Option exercise | 1.3K | — |
| 2026-05-13 | Hernandez Laurie | Option exercise | 1.3K | — |
| 2026-05-13 | KENNEDY KOLLEEN T | Option exercise | 1.3K | — |
| 2026-05-13 | Hoffmeister David F | Option exercise | 1.3K | — |
| 2026-05-13 | FINNEY ELISHA W | Option exercise | 1.3K | — |
| 2026-05-13 | Abbey Donald | Option exercise | 1.3K | — |
| 2026-05-12 | Greenberg David C. | Sell | 2.4K | $122.91 |
| 2026-05-12 | Greenberg David C. | Option exercise | 2.4K | $101.06 |
| 2026-03-25 | Abbey Donald | Other | 704 | — |
| 2026-03-15 | Woolson Daniel | Option exercise | 2.9K | — |
| 2026-03-15 | Woolson Daniel | Tax withheld | 1.3K | $125.85 |
| 2026-03-15 | Sanzone Virginia Ruth | Option exercise | 5.7K | — |
| 2026-03-15 | Sanzone Virginia Ruth | Tax withheld | 3.1K | $125.85 |
| 2026-03-15 | Sanzone Virginia Ruth | Option exercise | 1.6K | — |
| 2026-03-15 | Sanzone Virginia Ruth | Tax withheld | 897 | $125.85 |
| 2026-03-15 | Jain Vivek | Option exercise | 17K | — |
| 2026-03-15 | Jain Vivek | Tax withheld | 9.5K | $125.85 |
| 2026-03-15 | Jain Vivek | Option exercise | 4.9K | — |
| 2026-03-15 | Jain Vivek | Tax withheld | 2.7K | $125.85 |
| 2026-03-15 | Sousa Ben | Option exercise | 1.3K | — |
| 2026-03-15 | Sousa Ben | Tax withheld | 718 | $125.85 |
| 2026-03-15 | Bonnell Brian Michael | Option exercise | 11K | — |
| 2026-03-15 | Bonnell Brian Michael | Tax withheld | 5.8K | $125.85 |
| 2026-03-15 | Bonnell Brian Michael | Option exercise | 3.2K | — |
| 2026-03-15 | Bonnell Brian Michael | Tax withheld | 1.8K | $125.85 |
| 2026-03-15 | Voigtlander Christian B. | Option exercise | 11K | — |
| 2026-03-15 | Voigtlander Christian B. | Tax withheld | 6.3K | $125.85 |
| 2026-03-15 | Voigtlander Christian B. | Option exercise | 3.2K | — |
| 2026-03-15 | Voigtlander Christian B. | Tax withheld | 1.8K | $125.85 |
| 2026-03-08 | Woolson Daniel | Tax withheld | 6.9K | $132.00 |
| 2026-03-08 | Sousa Ben | Tax withheld | 4.0K | $132.00 |
| 2026-03-08 | Sousa Ben | Option exercise | 957 | — |
| 2026-03-08 | Sousa Ben | Tax withheld | 529 | $132.00 |
| 2026-03-08 | Bonnell Brian Michael | Option exercise | 72K | — |
| 2026-03-08 | Bonnell Brian Michael | Tax withheld | 40K | $132.00 |
| 2026-03-08 | Voigtlander Christian B. | Option exercise | 72K | — |
| 2026-03-08 | Voigtlander Christian B. | Tax withheld | 40K | $132.00 |
| 2026-03-08 | Woolson Daniel | Option exercise | 16K | — |
| 2026-03-08 | Woolson Daniel | Option exercise | 2.2K | — |
| 2026-03-08 | Woolson Daniel | Tax withheld | 630 | $132.00 |
| 2026-03-08 | Sanzone Virginia Ruth | Option exercise | 24K | — |
| 2026-03-08 | Sanzone Virginia Ruth | Tax withheld | 13K | $132.00 |
| 2026-03-08 | Sanzone Virginia Ruth | Option exercise | 3.2K | — |
| 2026-03-08 | Sanzone Virginia Ruth | Tax withheld | 1.8K | $132.00 |
| 2026-03-08 | Jain Vivek | Option exercise | 108K | — |
| 2026-03-08 | Jain Vivek | Tax withheld | 60K | $132.00 |
| 2026-03-08 | Sousa Ben | Option exercise | 7.2K | — |
| 2026-03-07 | Woolson Daniel | Option exercise | 1.6K | — |
| 2026-03-07 | Woolson Daniel | Tax withheld | 702 | $132.00 |
| 2026-03-07 | Sousa Ben | Tax withheld | 782 | $132.00 |
| 2026-03-07 | Jain Vivek | Tax withheld | 2.9K | — |
| 2026-03-07 | Sanzone Virginia Ruth | Option exercise | 2.3K | — |
| 2026-03-07 | Bonnell Brian Michael | Option exercise | 3.5K | — |
| 2026-03-07 | Bonnell Brian Michael | Tax withheld | 1.3K | — |
| 2026-03-07 | Sanzone Virginia Ruth | Tax withheld | 1.3K | $132.00 |
| 2026-03-07 | Sousa Ben | Option exercise | 1.4K | — |
| 2026-03-07 | Voigtlander Christian B. | Option exercise | 3.5K | — |
| 2026-03-07 | Voigtlander Christian B. | Tax withheld | 1.9K | $132.00 |
| 2026-03-07 | Jain Vivek | Option exercise | 5.3K | — |
| 2025-11-25 | Woolson Daniel | Sell | 2.9K | $152.35 |
| 2025-11-11 | Sanzone Virginia Ruth | Sell | 930 | $142.34 |
| 2025-11-11 | FINNEY ELISHA W | Option exercise | 1.3K | $103.76 |
| 2025-11-11 | FINNEY ELISHA W | Sell | 1.3K | $140.42 |
| 2025-09-12 | Jain Vivek | Gift | 64K | — |
| 2025-09-12 | Jain Vivek | Gift | 64K | — |
| 2025-08-27 | Greenberg David C. | Buy | 602 | $126.14 |
| 2025-08-27 | Greenberg David C. | Buy | 598 | $126.69 |
| 2025-08-14 | Jain Vivek | Buy | 2.4K | $112.12 |
| 2025-08-14 | Jain Vivek | Buy | 20K | $112.92 |
| 2025-05-30 | Sanzone Virginia Ruth | Sell | 700 | $133.62 |
| 2025-05-28 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-28 | Voigtlander Christian B. | Sell | 5.0K | $128.50 |
| 2025-05-27 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-27 | Voigtlander Christian B. | Sell | 4.9K | $131.00 |
| 2025-05-23 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-23 | Voigtlander Christian B. | Sell | 5.0K | $130.00 |
| 2025-05-22 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-22 | Voigtlander Christian B. | Sell | 5.0K | $130.03 |
| 2025-05-21 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-21 | Voigtlander Christian B. | Sell | 4.9K | $133.00 |
| 2025-05-20 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-20 | Voigtlander Christian B. | Sell | 4.9K | $137.11 |
| 2025-05-19 | FINNEY ELISHA W | Sell | 600 | $138.92 |
| 2025-05-19 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-19 | Voigtlander Christian B. | Sell | 5.6K | $138.00 |
| 2025-05-16 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-16 | Voigtlander Christian B. | Sell | 5.6K | $140.00 |
| 2025-05-15 | Voigtlander Christian B. | Sell | 5.6K | $135.55 |
| 2025-05-15 | Sousa Ben | Sell | 2.0K | $137.36 |
| 2025-05-15 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-14 | Voigtlander Christian B. | Option exercise | 5.6K | $96.83 |
| 2025-05-14 | Voigtlander Christian B. | Sell | 5.6K | $138.65 |
| 2025-05-13 | KENNEDY KOLLEEN T | Option exercise | 1.7K | — |
| 2025-05-13 | FINNEY ELISHA W | Option exercise | 1.7K | — |
| 2025-05-13 | Hernandez Laurie | Option exercise | 1.7K | — |
| 2025-05-13 | Greenberg David C. | Option exercise | 1.7K | — |
| 2025-05-13 | Greenberg David C. | Option exercise | 1.9K | $94.68 |
| 2025-05-13 | Greenberg David C. | Sell | 1.9K | $143.66 |
| 2025-05-13 | Hoffmeister David F | Option exercise | 1.7K | — |
| 2025-05-13 | Abbey Donald | Option exercise | 1.7K | — |
| 2025-03-15 | Voigtlander Christian B. | Tax withheld | 1.8K | $143.45 |
| 2025-03-15 | Woolson Daniel | Option exercise | 2.9K | — |
| 2025-03-15 | Woolson Daniel | Tax withheld | 1.3K | $143.45 |
| 2025-03-15 | Jain Vivek | Option exercise | 4.9K | — |
| 2025-03-15 | Jain Vivek | Tax withheld | 2.7K | $143.45 |
| 2025-03-15 | Sousa Ben | Tax withheld | 716 | $143.45 |
| 2025-03-15 | Bonnell Brian Michael | Option exercise | 3.2K | — |
| 2025-03-15 | Sousa Ben | Option exercise | 1.3K | — |
| 2025-03-15 | Voigtlander Christian B. | Option exercise | 3.2K | — |
| 2025-03-15 | Sanzone Virginia Ruth | Option exercise | 1.6K | — |
| 2025-03-15 | Sanzone Virginia Ruth | Tax withheld | 898 | $143.45 |
| 2025-03-08 | Woolson Daniel | Option exercise | 2.2K | — |
| 2025-03-08 | Woolson Daniel | Tax withheld | 953 | $141.97 |
| 2025-03-08 | Sousa Ben | Option exercise | 957 | — |
| 2025-03-08 | Sousa Ben | Tax withheld | 550 | $141.97 |
| 2025-03-08 | Sanzone Virginia Ruth | Option exercise | 3.2K | — |
| 2025-03-08 | Sanzone Virginia Ruth | Tax withheld | 1.8K | $141.97 |
| 2025-03-07 | Bonnell Brian Michael | Option exercise | 2.1K | — |
| 2025-03-07 | Sousa Ben | Option exercise | 430 | — |
| 2025-03-07 | Sousa Ben | Tax withheld | 260 | $141.97 |
| 2025-03-07 | Voigtlander Christian B. | Option exercise | 2.1K | — |
| 2025-03-07 | Voigtlander Christian B. | Tax withheld | 1.2K | $141.97 |
| 2025-03-07 | Woolson Daniel | Option exercise | 966 | — |
| 2025-03-07 | Woolson Daniel | Tax withheld | 467 | $141.97 |
| 2025-03-07 | Sanzone Virginia Ruth | Option exercise | 1.1K | — |
| 2025-03-07 | Sanzone Virginia Ruth | Tax withheld | 625 | $141.97 |
| 2025-03-07 | Jain Vivek | Tax withheld | 1.8K | — |
| 2025-03-07 | Jain Vivek | Option exercise | 3.2K | — |
| 2025-01-02 | Jain Vivek | Option exercise | 1.4K | $88.76 |
| 2025-01-02 | Jain Vivek | Sell | 1.4K | $155.48 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-18 | 5.03Shareholder voteExhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-02-20 | Exec/director changeExhibits | filing ↗ |
| 2026-02-19 | ResultsExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
| 2025-05-14 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2025-05-08 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-18 | 2026-05-13 | 0000883984-26-000031 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0000883984-26-000028 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000883984-26-000029 ↗ |
| 8-K | 2026-02-20 | 2026-02-20 | 0000883984-26-000010 ↗ |
| 10-K | 2026-02-19 | 2025-12-31 | 0000883984-26-000008 ↗ |
| 8-K | 2026-02-19 | 2026-02-19 | 0000883984-26-000007 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0000883984-25-000034 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0000883984-25-000035 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0000883984-25-000029 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000883984-25-000030 ↗ |
| 8-K | 2025-05-14 | 2025-05-13 | 0000883984-25-000018 ↗ |
| 8-K | 2025-05-08 | 2025-05-08 | 0000883984-25-000014 ↗ |