SurModics Inc. (SRDX) Issues FY14 Earnings Guidance
SurModics Inc. (NASDAQ:SRDX) updated its FY14 earnings guidance on Thursday. The company provided EPS guidance of $0.90-0.97 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.89, Analyst Ratings.Net reports. The company issued revenue guidance of $56.0-58.5 million, compared to the consensus revenue estimate of $57.17 million.
Several analysts have recently commented on the stock. Analysts at Sidoti initiated coverage on shares of SurModics in a research note on Thursday, July 10th. They set a neutral rating on the stock. Analysts at Zacks downgraded shares of SurModics from a neutral rating to an underperform rating in a research note on Monday, May 26th. They now have a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $27.25.
SurModics Inc. (NASDAQ:SRDX) traded down 4.24% on Thursday, hitting $18.99. The stock had a trading volume of 48,815 shares. SurModics Inc. has a 52 week low of $18.91 and a 52 week high of $25.99. The stock has a 50-day moving average of $20.68 and a 200-day moving average of $22.43. The company has a market cap of $258.2 million and a price-to-earnings ratio of 21.94.
SurModics (NASDAQ:SRDX) last announced its earnings results on Thursday, July 31st. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.04. The company had revenue of $14.62 million for the quarter, compared to the consensus estimate of $14.84 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that SurModics Inc. will post $0.91 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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