Revenue Update on SurModics(NASDAQ:SRDX)

SurModics(NASDAQ:SRDX) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $19.97M. Analysts estimated a revenue of $16.31M. Earnings per share were $0.37. Analysts had estimated an EPS of $0.12.

SurModics (SRDX) shares turned negative on Thursdays trading session with the shares closing down -0.17 points or -0.62% at a volume of 38,151. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.98. The peak price level was also seen at $27.98 while the days lowest was $27.24. Finally the shares closed at $27.47. The 52-week high of the shares is $28.3 while the 52-week low is $17.45. According to the latest information available, the market cap of the company is $358 M.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Bryan K Phillips (SVP, Gen Counsel & Secretary) sold 1,816 shares at $23.44 per share price.Also, On Jun 14, 2016, Joseph J. Stich (VP, Bus Ops & GM, IVD) sold 1,000 shares at $23.33 per share price.On Jun 2, 2016, Susan E Knight (director) sold 2,330 shares at $22.35 per share price, according to the Form-4 filing with the securities and exchange commission.

SurModics Inc. is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates in two reportable segments: the Medical Device unit which is comprised of surface modification coating technologies to improve access deliverability and predictable deployment of medical devices as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device with end markets that include coronary peripheral and neurovascular and urology among others and the In Vitro Diagnostics unit which consists of component products and technologies for diagnostic immunoassay and molecular tests and biomedical research applications with products that include protein stabilization reagents substrates antigens and surface coatings.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *