Surmodics, Inc. to Post Q3 2022 Earnings of ($0.39) Per Share, Barrington Research Forecasts (NASDAQ:SRDX)

Surmodics, Inc. (NASDAQ:SRDXGet Rating) – Barrington Research dropped their Q3 2022 earnings per share (EPS) estimates for Surmodics in a note issued to investors on Thursday, April 28th. Barrington Research analyst M. Petusky now forecasts that the company will post earnings of ($0.39) per share for the quarter, down from their prior forecast of ($0.33). Barrington Research also issued estimates for Surmodics’ Q4 2022 earnings at ($0.39) EPS, FY2022 earnings at ($1.15) EPS, Q2 2023 earnings at ($0.28) EPS, FY2023 earnings at $0.18 EPS and FY2024 earnings at ($0.11) EPS.

Surmodics (NASDAQ:SRDXGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.10. Surmodics had a negative net margin of 10.80% and a negative return on equity of 6.22%. During the same period in the previous year, the company posted $0.62 earnings per share.

Several other equities research analysts have also recently weighed in on the stock. Needham & Company LLC decreased their price objective on shares of Surmodics from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, February 4th. assumed coverage on shares of Surmodics in a research report on Thursday, March 31st. They set a “hold” rating for the company.

Shares of NASDAQ SRDX opened at $38.66 on Monday. Surmodics has a 52-week low of $36.24 and a 52-week high of $62.27. The company has a 50 day simple moving average of $42.74. The firm has a market cap of $540.31 million, a PE ratio of -51.55 and a beta of 1.02.

A number of large investors have recently bought and sold shares of the business. Sphinx Trading LP bought a new position in shares of Surmodics in the fourth quarter valued at $39,000. Cubist Systematic Strategies LLC bought a new position in shares of Surmodics in the fourth quarter valued at $53,000. Marshall Wace LLP bought a new position in shares of Surmodics in the fourth quarter valued at $83,000. Captrust Financial Advisors lifted its stake in shares of Surmodics by 230.0% in the third quarter. Captrust Financial Advisors now owns 1,828 shares of the company’s stock valued at $102,000 after buying an additional 1,274 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Surmodics in the fourth quarter valued at $144,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

In other Surmodics news, CEO Gary R. Maharaj sold 4,000 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $44.99, for a total value of $179,960.00. Following the completion of the sale, the chief executive officer now directly owns 155,041 shares in the company, valued at $6,975,294.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.70% of the company’s stock.

About Surmodics (Get Rating)

Surmodics, Inc, together with its subsidiaries, provides surface modification technologies for intravascular medical devices, and chemical components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates in two segments, Medical Device and In Vitro Diagnostics (IVD).

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Earnings History and Estimates for Surmodics (NASDAQ:SRDX)

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