Pre-earnings brief
Reports
Thu, Nov 5, 2026
Est. EPS
—
Est. revenue
—
Implied move
±6.9%
EPS beat rate
100%
ICU Medical, Inc. is a healthcare company focused on developing innovative medical devices and supplies, particularly in the areas of infusion therapy and critical care. With a market cap of $4 billion, the company plays a crucial role in providing essential healthcare solutions that improve patient outcomes.
Last quarter
In Q2 2026, ICU Medical reported an EPS of $2.37, significantly exceeding expectations by 59%. The stock experienced a slight decline the following day, indicating mixed investor sentiment despite the strong earnings.
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+74.78%
Avg 1-day reaction
+1.12%
Investors are anticipating another strong performance from ICU Medical, given its history of beating earnings expectations. However, the lack of analyst estimates adds uncertainty to the upcoming report.
Bull case
If ICU Medical continues its trend of exceeding EPS expectations, it could lead to a positive market reaction and further stock appreciation.
Bear case
Conversely, if the company fails to meet the high bar set by previous quarters, it may face a negative reaction from investors, especially given the current lack of guidance.
The print will turn on these.
Q1
What will the EPS be for Q3-2026?
Given the company's strong track record of beating EPS estimates, this figure will be crucial in determining market sentiment post-earnings.
Q2
What insights can management provide on revenue growth?
Investors will be keen to understand the company's growth trajectory and any potential challenges in the current market environment.
Est. EPS
$1.98
Est. Rev
$113.6B
Impl. Move
±6.9%
Why consensus could be wrong
While the market expects continued strong performance, the lack of analyst estimates may understate the potential for volatility in the stock price.
Supporting evidence
The options market is pricing a significant move of 6.91%, indicating expectations for volatility.
ICU Medical has consistently beaten EPS estimates, suggesting the potential for another strong performance.
The historical average move post-earnings is only 2.21%, indicating that the options market may be pricing in more volatility than usual.
Key risk
If EPS falls below $1.80, it could significantly alter the bullish sentiment surrounding the stock.
Pre-commit to what would confirm each case.
The market is currently weighing the potential for continued strong earnings against the risks of a slowdown in growth.
Bull confirmed if
An EPS of $2.50 or higher would confirm the bullish case, indicating continued strong performance.
Bear confirmed if
An EPS below $1.80 would signal significant concerns about the company's growth and profitability.
What the market is pricing for the move.
Implied Move
±6.91%
Historical Avg
±2.2%
The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.
Options are pricing ±6.9% while ICUI has averaged ±2.2% over the last 8 prints — setup is pricing rich.
ATM IV
0.4%
30d HV
25.6%
Smart-money positioning from the most recent 13F filings.
Institutional
115.79%
of float
Insider
1.75%
of float
Holders
397
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
3,753,409 sh · $585.6M
15.02%
4.0%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If ICU Medical beats expectations, history suggests a potential stock increase of around +1.12%, confirming the company's strong performance.
In line / cautious
If results are in line with expectations, the stock may experience muted movement as investors await further guidance.
Miss
A miss could lead to a decline in stock price, with historical patterns suggesting an average drop of around -2.21%.
The lines on the call that would change the story.
Jupiter Topco LLC
2,781,620 sh · $434.0M
11.13%
100.0%
Vanguard Portfolio Management LLC
1,470,583 sh · $229.5M
5.88%
2.3%
Fuller & Thaler Asset Management Inc.
1,298,127 sh · $202.5M
5.19%
6.4%
Vanguard Capital Management LLC
1,123,237 sh · $175.3M
4.49%
1.0%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.