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

Wall Street brokerages expect SurModics, Inc. (NASDAQ:SRDX) to announce $0.06 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made 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 indicates a negative year-over-year growth rate of 70%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, April 27th.

According to Zacks, 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 financial year, analysts expect that the business will report earnings of $0.35 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow SurModics.

SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.10. SurModics had a net margin of 13.46% and a return on equity of 13.14%. The company earned $17.80 million during the quarter, compared to analysts’ expectations of $15.81 million. During the same quarter last year, the company posted $0.19 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year.

Separately, Zacks Investment Research cut shares of SurModics from a “hold” rating to a “sell” rating in a report on Monday, February 6th.

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in 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 in the last quarter. BlackRock Fund Advisors boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in SurModics by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 400,974 shares of the company’s stock valued at $12,065,000 after buying an additional 25,249 shares in the last quarter. Finally, State Street Corp boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.

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

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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