In a report released today, Michael Petusky from Barrington maintained a Buy rating on SurModics (SRDX), with a price target of $77. The company’s shares opened today at $63.42.
Petusky observed:
“We are now modeling FY/19 adjusted EPS of $0.08 and revenue of $93.3 million.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 12.5% and a 59.1% success rate. Petusky covers the Services sector, focusing on stocks such as US Physical Therapy, Tivity Health Inc, and BioScrip Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SurModics with a $75.50 average price target, which is a 19.0% upside from current levels. In a report issued on November 9, Needham also reiterated a Buy rating on the stock with a $74 price target.
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Based on SurModics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.68 million. In comparison, last year the company had a net profit of $400K.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock.
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SurModics, Inc. engages in the provision of medical device and in vitro diagnostic technologies to the healthcare industry. It operates through the Medical Device and In Vitro Diagnostics segments.
