Surmodics (NASDAQ:SRDX) Releases FY 2024 Earnings Guidance

Surmodics (NASDAQ:SRDX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.670–0.470 for the period, compared to the consensus estimate of -0.940. The company issued revenue guidance of $118.0 million-$120.0 million, compared to the consensus revenue estimate of $119.7 million.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SRDX. Needham & Company LLC decreased their price target on Surmodics from $47.00 to $43.00 and set a buy rating for the company in a report on Wednesday. Barrington Research restated an outperform rating and issued a $71.00 price objective on shares of Surmodics in a research note on Thursday. Finally, StockNews.com downgraded Surmodics from a strong-buy rating to a buy rating in a research note on Wednesday, April 24th.

Surmodics Stock Performance

NASDAQ:SRDX traded down $2.06 during trading on Friday, reaching $32.49. The company’s stock had a trading volume of 90,444 shares, compared to its average volume of 134,803. The firm has a market cap of $463.31 million, a price-to-earnings 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. The firm has a 50 day moving average of $28.63 and a 200-day moving average of $31.66. Surmodics has a 12 month low of $16.79 and a 12 month high of $39.41.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The firm had revenue of $31.96 million for the quarter, compared to analysts’ expectations of $28.79 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. Research analysts expect that Surmodics will post -0.57 EPS for the current fiscal year.

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).