Surmodics, Inc. (NASDAQ:SRDX) Set to Announce Earnings on Wednesday
Surmodics, Inc. (NASDAQ:SRDX) is scheduled to be announcing its earnings results before the market opens on Wednesday, July 26th. Analysts expect the company to announce earnings of ($0.03) per share for the quarter. Surmodics has set its FY17 guidance at $0.15-0.25 EPS.
Surmodics (NASDAQ:SRDX) last announced its earnings results on Thursday, April 27th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.02. Surmodics had a return on equity of 10.95% and a net margin of 12.88%. The business had revenue of $17.50 million for the quarter, compared to analyst estimates of $16.21 million. During the same quarter last year, the company posted $0.20 EPS. Surmodics’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts expect Surmodics to post $0.22 EPS for the current fiscal year and $0.29 EPS for the next fiscal year.
Shares of Surmodics, Inc. (NASDAQ SRDX) opened at 28.20 on Wednesday. Surmodics, Inc. has a 52 week low of $21.90 and a 52 week high of $30.75. The stock’s 50 day moving average is $26.20 and its 200 day moving average is $24.60. The firm has a market cap of $374.38 million, a P/E ratio of 39.83 and a beta of 0.89.
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SRDX has been the subject of a number of research analyst reports. Aegis initiated coverage on shares of Surmodics in a research note on Tuesday, June 27th. They issued a “buy” rating for the company. Zacks Investment Research lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. BidaskClub lowered shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Lake Street Capital initiated coverage on shares of Surmodics in a research note on Friday, July 14th. They issued a “buy” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.33.
In other news, SVP Bryan K. Phillips sold 1,226 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $24.85, for a total value of $30,466.10. Following the completion of the sale, the senior vice president now directly owns 29,208 shares of the company’s stock, valued at approximately $725,818.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary R. Maharaj sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.03, for a total transaction of $140,150.00. Following the completion of the sale, the chief executive officer now directly owns 131,807 shares of the company’s stock, valued at $3,694,550.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,928 shares of company stock valued at $263,719. Company insiders own 6.40% of the company’s stock.
Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.
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