Surmodics (NASDAQ:SRDX) Announces Quarterly Earnings Results

Surmodics (NASDAQ:SRDX) posted its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.43, Zacks reports. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The company had revenue of $31.96 million for the quarter, compared to analyst estimates of $28.79 million. During the same period last year, the business posted ($0.40) EPS. Surmodics updated its FY 2024 guidance to -0.670–0.470 EPS.

Surmodics Price Performance

Surmodics stock traded down $2.06 during trading hours on Friday, hitting $32.49. 90,444 shares of the stock were exchanged, compared to its average volume of 134,803. Surmodics has a 12 month low of $16.79 and a 12 month high of $39.41. The business’s 50-day moving average is $28.63 and its two-hundred day moving average is $31.66. The stock has a market capitalization of $463.31 million, a P/E ratio of 34.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.39.

Analyst Ratings Changes

SRDX has been the topic of several recent research reports. Barrington Research reiterated an “outperform” rating and set a $71.00 target price on shares of Surmodics in a research report on Thursday. StockNews.com cut shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Needham & Company LLC decreased their price objective on shares of Surmodics from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday.

About Surmodics

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).