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ICU Medical (ICUI) Stock Jumps 5.8%: Will It Continue to Soar?
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ICU Medical (ICUI - Free Report) shares rallied 5.8% in the last trading session to close at $187.05. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.7% gain over the past four weeks.
ICU Medical recorded a strong price increase before its fourth-quarter 2022 earnings release with the latest Zacks Consensus Estimate showing significant upward revision for its quarterly revenues compared to the year-ago reported number. The company is expected to release its fourth quarter earnings on Feb 23, 2023.
This medical device maker is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of -17.6%. Revenues are expected to be $578.6 million, up 69.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For ICU Medical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ICUI going forward to see if this recent jump can turn into more strength down the road.
ICU Medical is a member of the Zacks Medical - Products industry. One other stock in the same industry, TerrAscend Corp. , finished the last trading session 1.4% lower at $1.37. TRSSF has returned 16.8% over the past month.
TerrAscend Corp.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of -66.7%. TerrAscend Corp. currently boasts a Zacks Rank of #1 (Strong Buy).
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ICU Medical (ICUI) Stock Jumps 5.8%: Will It Continue to Soar?
ICU Medical (ICUI - Free Report) shares rallied 5.8% in the last trading session to close at $187.05. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.7% gain over the past four weeks.
ICU Medical recorded a strong price increase before its fourth-quarter 2022 earnings release with the latest Zacks Consensus Estimate showing significant upward revision for its quarterly revenues compared to the year-ago reported number. The company is expected to release its fourth quarter earnings on Feb 23, 2023.
This medical device maker is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of -17.6%. Revenues are expected to be $578.6 million, up 69.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For ICU Medical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ICUI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ICU Medical is a member of the Zacks Medical - Products industry. One other stock in the same industry, TerrAscend Corp. , finished the last trading session 1.4% lower at $1.37. TRSSF has returned 16.8% over the past month.
TerrAscend Corp.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of -66.7%. TerrAscend Corp. currently boasts a Zacks Rank of #1 (Strong Buy).