Surmodics (NASDAQ:SRDX) Releases Earnings Results, Beats Expectations By $0.43 EPS

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

Surmodics Stock Performance

Shares of Surmodics stock traded up $1.85 on Thursday, hitting $35.18. The stock had a trading volume of 113,128 shares, compared to its average volume of 60,535. The company’s 50 day moving average price is $28.58 and its 200 day moving average price is $31.63. The company has a current ratio of 4.84, a quick ratio of 3.97 and a debt-to-equity ratio of 0.24. The stock has a market cap of $500.96 million, a price-to-earnings ratio of 87.61 and a beta of 1.04. Surmodics has a 52-week low of $16.79 and a 52-week high of $39.41.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SRDX. StockNews.com cut Surmodics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Needham & Company LLC lowered their target price on Surmodics from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday.

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).