Surmodics, Inc. (NASDAQ:SRDX) Forecasted to Post Q2 2024 Earnings of ($0.36) Per Share

Surmodics, Inc. (NASDAQ:SRDXFree Report) – Research analysts at Barrington Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of Surmodics in a report released on Tuesday, February 6th. Barrington Research analyst M. Petusky now forecasts that the company will post earnings per share of ($0.36) for the quarter, down from their prior estimate of ($0.29). Barrington Research currently has a “Outperform” rating and a $71.00 target price on the stock. The consensus estimate for Surmodics’ current full-year earnings is ($1.00) per share. Barrington Research also issued estimates for Surmodics’ Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.89) EPS, Q1 2025 earnings at ($0.09) EPS, FY2025 earnings at $0.19 EPS and FY2026 earnings at $0.90 EPS.

SRDX has been the subject of several other research reports. Needham & Company LLC raised their price target on Surmodics from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. upgraded shares of Surmodics from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th.

Read Our Latest Analysis on Surmodics

Surmodics Trading Up 0.2 %

NASDAQ:SRDX opened at $30.80 on Thursday. The firm has a 50 day moving average of $34.64 and a 200 day moving average of $33.81. The company has a quick ratio of 3.97, a current ratio of 4.84 and a debt-to-equity ratio of 0.24. Surmodics has a 52 week low of $16.00 and a 52 week high of $39.41. The stock has a market capitalization of $438.59 million, a price-to-earnings ratio of 81.05 and a beta of 1.05.

Surmodics (NASDAQ:SRDXGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.16 by $0.37. Surmodics had a net margin of 3.99% and a return on equity of 8.06%. The business had revenue of $27.97 million during the quarter, compared to analyst estimates of $26.00 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SRDX. Tower Research Capital LLC TRC increased its holdings in Surmodics by 305.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 775 shares of the company’s stock worth $25,000 after buying an additional 584 shares during the period. UBS Group AG grew its position in Surmodics by 141.1% during the 3rd quarter. UBS Group AG now owns 2,290 shares of the company’s stock worth $70,000 after purchasing an additional 1,340 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Surmodics during the 3rd quarter valued at about $87,000. Captrust Financial Advisors raised its stake in shares of Surmodics by 24.3% during the 1st quarter. Captrust Financial Advisors now owns 2,307 shares of the company’s stock valued at $105,000 after buying an additional 451 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Surmodics by 1,023.0% in the second quarter. Citigroup Inc. now owns 4,144 shares of the company’s stock worth $130,000 after buying an additional 3,775 shares during the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.

About Surmodics

(Get Free Report)

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).

Further Reading

Earnings History and Estimates for Surmodics (NASDAQ:SRDX)

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