Published on 30 Dec 2022 on Zacks via Yahoo Finance
Surmodics, Inc. SRDX is well-poised for growth in the coming quarters, courtesy of its solid prospects in the thrombectomy business over the past few months. The optimism led by a solid fourth-quarter fiscal 2022 performance and consistent efforts to boost research and development (R&D) are expected to contribute further. Yet, concerns related to regulatory headwinds and data security threats persist.
Over the past year, this Zacks Rank #3 (Hold) stock has lost 30.1% compared with 44.6% decline of the industry and 20.5% fall of the S&P 500 composite.
The renowned medical device and in-vitro diagnostics technology provider has a market capitalization of $475.8 million. Surmodics projects 58.7% growth for fiscal 2024, expecting to maintain its strong performance. SRDX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 34.9%.