Surmodics, Inc. Expected to Earn FY2024 Earnings of ($0.47) Per Share (NASDAQ:SRDX)

Surmodics, Inc. (NASDAQ:SRDX) – Investment analysts at Zacks Research boosted their FY2024 earnings estimates for Surmodics in a report issued on Wednesday, August 14th. Zacks Research analyst D. Dey now expects that the company will post earnings of ($0.47) per share for the year, up from their previous forecast of ($0.51). The consensus estimate for Surmodics’ current full-year earnings is ($0.49) per share. Zacks Research also issued estimates for Surmodics’ Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.31 EPS, FY2025 earnings at $0.08 EPS and Q3 2026 earnings at $0.15 EPS.

A number of other analysts have also recently commented on the stock. Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a research report on Thursday, May 30th. Sidoti reaffirmed a “neutral” rating and set a $43.00 price target on shares of Surmodics in a research report on Wednesday, May 29th. Lake Street Capital reaffirmed a “hold” rating and set a $43.00 price target on shares of Surmodics in a research report on Wednesday, May 29th. StockNews.com assumed coverage on shares of Surmodics in a research report on Monday. They set a “hold” rating on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

Shares of SRDX opened at $40.06 on Monday. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $571.26 million, a P/E ratio of 42.17 and a beta of 1.18. The firm’s fifty day simple moving average is $41.60 and its two-hundred day simple moving average is $34.95. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44.

Hedge Funds Weigh In On Surmodics

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in shares of Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after acquiring an additional 481 shares during the last quarter. Finally, Hardin Capital Partners LLC acquired a new stake in shares of Surmodics in the 2nd quarter worth about $206,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

About Surmodics

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).