Surmodics (NASDAQ:SRDX) Issues FY 2024 Earnings Guidance

Surmodics (NASDAQ:SRDX) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.670–0.470 for the period, compared to the consensus EPS 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 Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $47.00 price target on shares of Surmodics in a research report on Wednesday, April 10th. StockNews.com lowered shares of Surmodics from a strong-buy rating to a buy rating in a report on Wednesday, April 24th.

Surmodics Stock Up 26.3 %

Shares of SRDX traded up $6.75 during mid-day trading on Wednesday, hitting $32.44. 38,718 shares of the company’s stock were exchanged, compared to its average volume of 57,185. The stock’s 50-day moving average is $28.66 and its 200-day moving average is $31.65. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84. Surmodics has a fifty-two week low of $16.79 and a fifty-two week high of $39.41. The company has a market cap of $461.82 million, a price-to-earnings ratio of 67.61 and a beta of 1.01.

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).