To read this article on click here.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.
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We expect an above average return from the stock in the next few months. It comes with little surprise SurModics has a Zacks Rank #1 (Strong Buy). If you aren't focused on one strategy, this score is the one you should be interested in.Įstimates have been trending upward for the stock, and the magnitude of this revision looks promising.
Overall, the stock has an aggregate VGM Score of D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy. The consensus estimate has shifted 50% due to these changes.Īt this time, SurModics has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. In the past month, investors have witnessed an upward trend in fresh estimates. How Have Estimates Been Moving Since Then? Adjusted operating margin came at 1.7%, showing a contraction of 339 bps.ĭue to uncertainty surrounding the duration and extent of the COVID-19 pandemic, Surmodics has suspended its previously-issued financial guidance for fiscal year 2020. The company reported adjusted operating income of $385 million, which fell 66.6% from the year-ago quarter. Total operating costs and expenses in the quarter were $22.9 million, up 5.4% year over year. Selling, general and administrative expenditures were $6.7 million, up 38.1% from the prior-year quarter. The company’s research and development costs totaled $11.9 million, down 11.9% year over year. Operating income at the segment was $3.5 million in the reported quarter, compared to income of $2.9 million in the prior-year quarter. In the quarter under review, sales improved 21.3% to $6.5 million. The Medical Device business unit reported an operating loss of $1.5 million in the fiscal second quarter compared with an operating loss of $0.2 million in the year-ago quarter. In the reported quarter, sales at the segment rose to $16.3 million, down 5.8% from the year-ago quarter.
Research, development and other revenues were $2.8 million, down 0.7% year over year.
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Royalty and license fee revenues totaled $8.2 million, down 17.2% from the prior-year quarter. In the quarter under review, Product sales were $11.8 million, up 19.2% from the prior-year quarter. Also, the figure beat the Zacks Consensus Estimate of $22.5 million by 1.6%. Revenues in the quarter improved 0.4% year over year to $22.8 million. On a GAAP (reported) basis, earnings per share came in at 11 cents compared with 9 cents in the prior-year quarter. However, the bottom line plunged 42.9% from the year-ago quarter. reported adjusted earnings per share of 4 cents in second-quarter fiscal 2020, which compared favorably with the Zacks Consensus Estimate of a loss of 5 cents.