Surmodics Inc reports results for the quarter ended in March - Earnings Summary

SurModics

01/05/2024 15:22

* Surmodics Inc  SRDX.OQ  reported quarterly adjusted
earnings of
7 cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of -40
cents.  The mean expectation of four analysts for the quarter
was for a loss of 32 cents per share. Wall Street expected
results to range from -36 cents to -30 cents per share.
    * Revenue rose 17.5% to $31.96 million from a year ago;
analysts
expected $28.84 million. 
    * Surmodics Inc's reported EPS for the quarter was 2 cents​.
    * The company reported quarterly net income of $247
thousand.
    * Surmodics Inc shares had fallen by 12.4% this quarter and
lost 29.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 17% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 4 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the medical
equipment,
supplies & distribution peer group is  "buy."

Wall Street's median 12-month price target for Surmodics Inc is
$58.50 
This summary was machine generated from LSEG data May 1 at 02:22
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      -0.32          0.07           Beat
 Dec. 31 2023      -0.30          0.00           Beat
 Sep. 30 2023      0.19           0.53           Beat
 Jun. 30 2023      0.05           0.52           Beat