Surmodics, Inc. (SRDX) Announces Earnings Results
Surmodics, Inc. (NASDAQ:SRDX) posted its quarterly earnings data on Wednesday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.19, Bloomberg Earnings reports. The firm had revenue of $20.06 million during the quarter, compared to the consensus estimate of $16.98 million. Surmodics had a net margin of 5.37% and a return on equity of 6.18%.
Shares of Surmodics (NASDAQ SRDX) traded up $0.15 during trading hours on Friday, hitting $30.00. 27,053 shares of the stock traded hands, compared to its average volume of 39,453. The firm has a market cap of $393.30, a PE ratio of 60.00 and a beta of 0.78. Surmodics has a one year low of $21.90 and a one year high of $32.80.
In other news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.28, for a total value of $27,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by insiders.
SRDX has been the subject of a number of recent research reports. BidaskClub downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine downgraded shares of Surmodics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Lake Street Capital initiated coverage on shares of Surmodics in a report on Friday, July 14th. They issued a “buy” rating and a $40.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $40.00.
Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.
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