SurModics Inc. (NASDAQ:SRDX) – Barrington Research lowered their Q1 2017 earnings estimates for SurModics in a report issued on Monday. Barrington Research analyst M. Petusky now forecasts that the firm will earn $0.12 per share for the quarter, down from their previous estimate of $0.18. Barrington Research currently has a “Market Perform” rating on the stock. Barrington Research also issued estimates for SurModics’ Q2 2017 earnings at $0.11 EPS.

SurModics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.17. The business had revenue of $18.20 million for the quarter, compared to analyst estimates of $16.09 million. SurModics had a return on equity of 15.98% and a net margin of 13.99%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS.

Earnings History and Estimates for SurModics (NASDAQ:SRDX)

SRDX has been the topic of several other reports. Zacks Investment Research upgraded SurModics from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Thursday, October 20th. Sidoti lowered SurModics from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Thursday, October 6th.

SurModics (NASDAQ:SRDX) opened at 25.90 on Tuesday. The stock’s 50 day moving average price is $26.97 and its 200-day moving average price is $26.14. SurModics has a one year low of $17.45 and a one year high of $30.75. The firm has a market cap of $338.98 million, a price-to-earnings ratio of 34.08 and a beta of 0.98.

In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of SurModics stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $29.55, for a total transaction of $147,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 7.20% of the company’s stock.

Several hedge funds have recently modified their holdings of SRDX. Capstone Asset Management Co. raised its stake in shares of SurModics by 1.6% in the third quarter. Capstone Asset Management Co. now owns 8,780 shares of the company’s stock worth $264,000 after buying an additional 140 shares during the period. California State Teachers Retirement System raised its stake in shares of SurModics by 1.1% in the third quarter. California State Teachers Retirement System now owns 27,414 shares of the company’s stock worth $825,000 after buying an additional 300 shares during the period. First Quadrant L P CA raised its stake in shares of SurModics by 9.4% in the third quarter. First Quadrant L P CA now owns 4,374 shares of the company’s stock worth $132,000 after buying an additional 374 shares during the period. Prudential Financial Inc. raised its stake in shares of SurModics by 0.9% in the first quarter. Prudential Financial Inc. now owns 46,162 shares of the company’s stock worth $850,000 after buying an additional 400 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of SurModics by 2.2% in the third quarter. Two Sigma Advisers LP now owns 41,073 shares of the company’s stock worth $1,236,000 after buying an additional 900 shares during the period. Institutional investors own 87.41% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Barrington Research Analysts Cut Earnings Estimates for SurModics Inc. (SRDX)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2016/11/24/barrington-research-analysts-cut-earnings-estimates-for-surmodics-inc-srdx.html.

About SurModics

SurModics, Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company is focused on to transform its medical device business from being a provider of coating technologies to offering whole product solutions to medical device customers.

5 Day Chart for NASDAQ:SRDX

Receive News & Stock Ratings for SurModics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SurModics Inc. and related stocks with our FREE daily email newsletter.