ICU Medical (ICUI) Strengthens Amid Competitors’ Quality Issues
Key takeaways
- A copy of the letter is available to download here.
- In its first-quarter 2026 investor letter, Madison Small Cap Fund Strategy highlighted ICU Medical, Inc.
- Madison Small Cap Fund stated the following regarding ICU Medical, Inc.
ICU Medical (ICUI) Strengthens Amid Competitors’ Quality Issues Soumya Eswaran Fri, June 12, 2026 at 10:34 PM GMT+7 3 min read ^RUT ICUI Madison Small Cap Fund, managed by Madison Funds, released its Q1 2026 investor letter. A copy of the letter is available to download here. The Madison Small Cap Fund (class I) increased by 0.10% in the first quarter, trailing behind the Russell 2000 Index (up 0.89%) and the Russell 2500 Index (up 2.04%). Despite slightly underperforming the benchmark in the quarter, core positions and IT investments showed solid performance. From a style perspective, value stocks outperformed growth, with the Russell 2000 Value Index rising ~4.5% and the Russell 2000 Growth Index falling almost 3%. The outperformance of the value is driven by weakness in speculative names aligning with the Fund’s style and preference for quality, profitable franchises. The Fund believes the market volatility, influenced by AI concerns and geopolitical tensions, presents a potential opportunity for patient investors. Please review the Fund’s top five holdings to gain insights into their key selections for 2026.
In its first-quarter 2026 investor letter, Madison Small Cap Fund Strategy highlighted ICU Medical, Inc. (NASDAQ:ICUI) as a newly added position. ICU Medical, Inc. (NASDAQ:ICUI) is a leading medical device company specializing in the development of products used in infusion therapy, vascular access, and vital care applications. On June 11, 2026, ICU Medical, Inc. (NASDAQ:ICUI) closed at $142.86 per share. One-month return of ICU Medical, Inc. (NASDAQ:ICUI) was 20.33%, and its shares gained 8.19% over the past 52 weeks. ICU Medical, Inc. (NASDAQ:ICUI) has a market capitalization of $3.57 billion.
Madison Small Cap Fund stated the following regarding ICU Medical, Inc. (NASDAQ:ICUI) in its Q1 2026 investor letter: