Surmodics (NASDAQ:SRDX) Issues Earnings Results

Surmodics (NASDAQ:SRDX) issued its quarterly earnings data on Wednesday. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.43, Zacks reports. The business had revenue of $31.96 million for the quarter, compared to the consensus estimate of $28.79 million. Surmodics had a net margin of 3.99% and a return on equity of 8.06%. During the same period in the previous year, the firm earned ($0.40) EPS. Surmodics updated its FY 2024 guidance to -0.670–0.470 EPS.

Surmodics Stock Up 6.2 %

Surmodics stock traded up $2.06 during mid-day trading on Thursday, reaching $35.39. The stock had a trading volume of 127,087 shares, compared to its average volume of 60,688. The company has a market capitalization of $503.95 million, a price-to-earnings ratio of 92.58 and a beta of 1.04. The company has a 50-day moving average price of $28.58 and a two-hundred day moving average price of $31.63. Surmodics has a one year low of $16.79 and a one year high of $39.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.84 and a quick ratio of 3.97.

Analyst Ratings Changes

A number of analysts have recently weighed in on SRDX shares. Needham & Company LLC reduced their target price on shares of Surmodics from $47.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com downgraded shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 24th.

Surmodics Company Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).