SurModics Inc. (SRDX) Releases FY14 Earnings Guidance
SurModics Inc. (NASDAQ:SRDX) updated its FY14 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.85-0.97 for the period, compared to the Thomson Reuters consensus estimate of $0.89, AR Network reports. The company issued revenue guidance of $56.0-58.5 million, compared to the consensus revenue estimate of $59.30 million.
SRDX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a neutral rating on shares of SurModics in a research note on Tuesday, April 22nd. They now have a $24.00 price target on the stock. On a related note, analysts at Benchmark Co. initiated coverage on shares of SurModics in a research note on Friday, April 4th. They set a buy rating and a $30.00 price target on the stock. Finally, analysts at Laidlaw initiated coverage on shares of SurModics in a research note on Tuesday, February 25th. They set a buy rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $28.45.
SurModics Inc. (NASDAQ:SRDX) traded up 0.69% on Thursday, hitting $21.91. 83,596 shares of the company’s stock traded hands. SurModics Inc. has a 52 week low of $19.24 and a 52 week high of $27.04. The stock’s 50-day moving average is $23.00 and its 200-day moving average is $23.82. The company has a market cap of $296.2 million and a P/E ratio of 21.78.
SurModics (NASDAQ:SRDX) last released its earnings data on Thursday, May 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $13.60 million for the quarter, compared to the consensus estimate of $14.40 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that SurModics Inc. will post $0.92 earnings per share for the current fiscal year.
SurModics, Inc (NASDAQ:SRDX) is a provider of drug delivery and surface modification technologies to the healthcare industry.
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