Needham analyst Michael Matson assigned a Buy rating to SurModics (SRDX) today and set a price target of $61.00. The company’s shares closed last Thursday at $45.10, close to its 52-week high of $49.00.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 15.4% and a 69.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.
SurModics has an analyst consensus of Moderate Buy, with a price target consensus of $61.00.
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Based on SurModics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $22.54 million and GAAP net loss of $2.95 million. In comparison, last year the company earned revenue of $30.82 million and had a net profit of $3.55 million.
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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. The Medical Device segment designs, develops, and manufactures interventional medical devices, surface modification coating technologies, as well as drug-delivery coating technologies. The In Vitro Diagnostics segment consists of component products and technologies for diagnostic test kits and biomedical research applications. The company was founded in June 1979 and is headquartered in Eden Prairie, MN.
