SurModics, Inc. (SRDX) Expected to Announce Earnings of $0.06 Per Share

Equities analysts expect SurModics, Inc. (NASDAQ:SRDX) to post $0.06 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for SurModics’ earnings, with estimates ranging from $0.05 to $0.08. SurModics posted earnings per share of $0.20 during the same quarter last year, which suggests a negative year-over-year growth rate of 70%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, April 27th.

On average, analysts expect that SurModics will report full year earnings of $0.32 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.33. For the next year, analysts forecast that the company will report earnings of $0.35 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow SurModics.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. The business earned $17.80 million during the quarter, compared to analyst estimates of $15.81 million. SurModics had a net margin of 13.46% and a return on equity of 13.14%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 earnings per share.

Separately, Zacks Investment Research raised shares of SurModics from a “sell” rating to a “hold” rating in a research report on Monday, January 23rd.

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A number of institutional investors have recently modified their holdings of SRDX. Renaissance Technologies LLC raised its position in shares of SurModics by 12.1% in the fourth quarter. Renaissance Technologies LLC now owns 964,038 shares of the company’s stock valued at $24,487,000 after buying an additional 103,900 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of SurModics by 7.6% in the third quarter. BlackRock Fund Advisors now owns 915,066 shares of the company’s stock valued at $27,534,000 after buying an additional 64,284 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of SurModics by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 587,924 shares of the company’s stock valued at $14,933,000 after buying an additional 37,480 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of SurModics during the fourth quarter valued at $937,000. Finally, State Street Corp raised its position in shares of SurModics by 10.8% in the fourth quarter. State Street Corp now owns 313,462 shares of the company’s stock valued at $7,962,000 after buying an additional 30,557 shares during the last quarter. 85.59% of the stock is currently owned by hedge funds and other institutional investors.

SurModics (NASDAQ:SRDX) traded down 1.84% during trading on Tuesday, hitting $24.00. 39,722 shares of the stock were exchanged. SurModics has a 12-month low of $19.86 and a 12-month high of $30.75. The stock’s 50-day moving average price is $23.91 and its 200-day moving average price is $25.24. The firm has a market cap of $318.38 million, a PE ratio of 32.88 and a beta of 1.03.

About SurModics

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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