Zacks Research Lowers Earnings Estimates for Surmodics

Surmodics, Inc. (NASDAQ:SRDX) – Research analysts at Zacks Research lowered their FY2027 EPS estimates for Surmodics in a report released on Thursday, March 20th. Zacks Research analyst D. Dey now expects that the company will post earnings of $0.83 per share for the year, down from their previous estimate of $0.84. The consensus estimate for Surmodics’ current full-year earnings is $0.20 per share.

Several other equities research analysts have also weighed in on SRDX. StockNews.com assumed coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Lake Street Capital raised shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

NASDAQ:SRDX opened at $30.91 on Monday. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. The business has a fifty day simple moving average of $33.24 and a two-hundred day simple moving average of $36.91. The company has a market capitalization of $441.89 million, a P/E ratio of -30.60 and a beta of 1.19.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new position in shares of Surmodics in the third quarter valued at approximately $1,190,000. Oddo BHF Asset Management Sas purchased a new position in shares of Surmodics during the 3rd quarter valued at $6,593,000. JPMorgan Chase & Co. raised its position in shares of Surmodics by 192.7% in the third quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company’s stock worth $1,647,000 after buying an additional 27,960 shares in the last quarter. Murchinson Ltd. bought a new stake in Surmodics during the third quarter valued at $2,133,000. Finally, State Street Corp grew its holdings in shares of Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company’s stock worth $14,506,000 after purchasing an additional 60,240 shares in the last quarter. Hedge funds and other institutional investors 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).