SurModics, Inc. to Post Q4 2019 Earnings of $0.06 Per Share, Barrington Research Forecasts (NASDAQ:SRDX)

SurModics, Inc. (NASDAQ:SRDX) – Investment analysts at Barrington Research cut their Q4 2019 earnings per share (EPS) estimates for SurModics in a research note issued on Thursday, May 2nd, according to Zacks Investment Research. Barrington Research analyst M. Petusky now expects that the company will post earnings of $0.06 per share for the quarter, down from their previous forecast of $0.08. Barrington Research has a “Buy” rating and a $64.00 price target on the stock. Barrington Research also issued estimates for SurModics’ Q3 2020 earnings at $0.10 EPS, Q4 2020 earnings at $0.12 EPS and FY2021 earnings at $0.35 EPS.

A number of other brokerages have also recently weighed in on SRDX. BidaskClub cut SurModics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 22nd. Zacks Investment Research cut SurModics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price objective (up from $69.00) on shares of SurModics in a research note on Thursday, February 21st. ValuEngine lowered SurModics from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 25th. Finally, Lake Street Capital set a $75.00 price objective on SurModics and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.00.

SRDX traded up $0.15 during trading on Monday, reaching $40.98. 97,800 shares of the stock traded hands, compared to its average volume of 111,970. The stock has a market cap of $572.18 million, a price-to-earnings ratio of 83.55, a PEG ratio of 14.14 and a beta of 1.24. SurModics has a fifty-two week low of $38.06 and a fifty-two week high of $82.35.

SurModics (NASDAQ:SRDX) last issued its earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $22.68 million during the quarter, compared to analysts’ expectations of $21.01 million. SurModics had a positive return on equity of 6.35% and a negative net margin of 2.07%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC acquired a new position in shares of SurModics in the 1st quarter worth approximately $26,000. Tyers Asset Management LLC acquired a new position in SurModics during the 1st quarter worth $33,000. Pearl River Capital LLC lifted its holdings in SurModics by 168.3% during the 1st quarter. Pearl River Capital LLC now owns 958 shares of the company’s stock worth $42,000 after buying an additional 601 shares in the last quarter. Neuburgh Advisers LLC acquired a new position in SurModics during the 1st quarter worth $52,000. Finally, LS Investment Advisors LLC lifted its holdings in SurModics by 53.3% during the 1st quarter. LS Investment Advisors LLC now owns 1,476 shares of the company’s stock worth $64,000 after buying an additional 513 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of SurModics stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $42.68, for a total transaction of $213,400.00. Following the sale, the chief executive officer now directly owns 157,205 shares of the company’s stock, valued at $6,709,509.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph J. Stich sold 1,900 shares of SurModics stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $45.00, for a total value of $85,500.00. Following the sale, the vice president now directly owns 52,637 shares in the company, valued at $2,368,665. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $517,954 over the last quarter. 7.70% of the stock is currently owned by corporate insiders.

SurModics Company Profile

Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.

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Earnings History and Estimates for SurModics (NASDAQ:SRDX)

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