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

Surmodics (NASDAQ:SRDX) issued its quarterly earnings results 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. The business had revenue of $31.96 million during the quarter, compared to analyst estimates of $28.79 million. Surmodics had a net margin of 3.99% and a return on equity of 8.06%. During the same quarter last year, the business posted ($0.40) earnings per share. Surmodics updated its FY 2024 guidance to -0.670–0.470 EPS.

Surmodics Trading Up 5.6 %

SRDX traded up $1.85 during trading on Thursday, reaching $35.18. 113,128 shares of the company’s stock were exchanged, compared to its average volume of 60,535. The company’s fifty day moving average price is $28.58 and its 200-day moving average price is $31.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84. Surmodics has a fifty-two week low of $16.79 and a fifty-two week high of $39.41. The firm has a market capitalization of $500.96 million, a PE ratio of 87.61 and a beta of 1.04.

Wall Street Analyst Weigh In

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

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).