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. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment engages in the provision of surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices; and drug-delivery coating technologies to provide site-specific drug-delivery from the surface of a medical device for coronary, peripheral, neuro-vascular and structural heart, and other markets, as well as design, development, and manufacturing of interventional medical devices, primarily balloons and catheters, including drug-coated balloons for peripheral arterial disease treatment and other applications. The Vitro Diagnostics segment designs, develops, and manufactures component products and technologies for diagnostic immunoassay, as well as molecular test and biomedical research applications. This segment offers protein stabilization reagents, substrates, surface coatings, and antigens. Surmodics, Inc. was founded in 1979 and is headquartered in Eden Prairie, Minnesota.
IPO Year: 1998
Exchange: NASDAQ
Website: surmodics.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/13/2023 | $36.00 | Hold → Buy | Needham |
| 2/13/2023 | Buy → Hold | Needham | |
| 2/4/2022 | $70.00 → $58.00 | Buy | Needham |
| 11/10/2021 | $76.00 → $70.00 | Buy | Needham |
| 9/8/2021 | $68.00 → $76.00 | Buy | Needham |
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its fourth quarter and fiscal year ended September 30, 2024. Fourth Quarter Fiscal 2024 Financial Summary Total Revenue of $33.2 million, an increase of 19% year-over-year Total Revenue excluding SurVeil™ drug-coated balloon ("DCB") license fee revenue(1) of $31.3 million, an increase of 17% year-over-year GAAP net loss of $(3.4) million, compared to net income of $6.7 million in the prior-year period Adjusted EBITDA(2) of $4.4 million, compared to $1.7 million in the prior-year period Fiscal 2024 Financial Summa
Early subset analysis of 60 patients with acute, subacute, or chronic symptoms of limb ischemia demonstrated 96.8% procedural flow restoration, with 81.7% of subjects not receiving additional thromboemboli removal treatment post Pounce™ System use. Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the health care industry, today announced that early results of a subset of 60 real-world acute, subacute, and chronic limb ischemia patients from its PROWL registry study were presented by Dr. Dean Ferrera at the 36th Annual TCT Symposium in Washington, D.C. PROWL is an open-label, retrospective, multi-center, U.S. registry of the Surmod
The Pounce™ Thrombectomy Platform can now be used to remove clot from peripheral arteries as small as 2mm up to as large as 10 mm in diameter, broadening the platform's clinical utility and significantly expanding its addressable market Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies, today announced it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for its Pounce™ XL Thrombectomy System. The Pounce XL Thrombectomy System is indicated for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature in vessels 5.5–10 mm in diameter, making it suitable for iliac, femoral, and other art
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its third quarter ended June 30, 2024. Third Quarter Fiscal 2024 Financial Summary Total Revenue of $30.3 million, compared to $52.5 million in the prior-year period which included $24.6 million in license fee revenue recognized upon receipt of a $27.0 million milestone payment associated with obtaining FDA premarket approval of the SurVeil™ drug-coated balloon ("DCB") Total Revenue excluding SurVeil DCB license fee revenue(1) of $29.2 million, an increase of 10% year-over-year GAAP net loss of $(7.6) million, co
Access to Premier's healthcare group purchasing organization (GPO) expected to expand national market reach for Surmodics endovascular thrombectomy solutions. Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies, today announced it has been awarded a group purchasing agreement for thrombectomy products with Premier, Inc. Effective June 1, 2024, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Surmodics Pounce™ and Pounce™ Venous Thrombectomy Systems. "This is an exciting development for Surmodics," said Gary Maharaj, President and Chief Executive
Surmodics, Inc. (NASDAQ:SRDX), a provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that it has entered into a definitive agreement to be acquired by GTCR, a leading private equity firm with a long track record of investment expertise across healthcare and healthcare technology. Under the terms of the agreement, affiliates of GTCR will acquire all outstanding shares of Surmodics. Surmodics shareholders will receive $43.00 per share in cash, for a total equity valuation of approximately $627 million. The per-share acquisition price represents a 41.1% premium to Surmodics' 30-trading day volume-weighted average closing price through M
Announces Commercial Launch of Two New Thrombectomy Devices for the Venous and Arterial Vasculatures: Pounce™ Venous and Pounce LP (Low Profile) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its second quarter ended March 31, 2024, and updated financial guidance for its fiscal year ending September 30, 2024. Second Quarter Fiscal 2024 Financial Summary Total Revenue of $32.0 million, an increase of 18% year-over-year Total Revenue excluding SurVeil™ drug-coated balloon ("DCB") license fee revenue(1) of $30.9 million, an increase of 19% year-over-year GAAP
Earnings Conference Call and Webcast Will Begin at 7:00 am (CT) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that second quarter of fiscal year 2024 financial results will be released before the market opens on Wednesday, May 1. Management will host a live webcast and conference call at 7:00 a.m. CT (8:00 a.m. ET) on Wednesday, May 1, to discuss the second quarter fiscal 2024 financial results and accomplishments and host a question-and-answer session. To access the webcast, please go to "Events & Presentations" under the "Investors" section of the Company's website at https://surmodi
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that management will participate in the following upcoming investor conferences: The 34th Annual Oppenheimer Healthcare Conference, which is being held virtually from March 12-13, 2024. Management will present on Wednesday, March 13, at 2:00 p.m. Eastern Time. The 23rd Annual Needham Healthcare Conference, which is being held virtually from April 8-11, 2024. Management will participate in a fireside chat on Tuesday, April 9, at 3:00 p.m. Eastern Time. To access live webcasts of the presentations, go to "Events & Presentations" und
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its first quarter ended December 31, 2023, and updated its financial guidance for fiscal year ending September 30, 2024. First Quarter Fiscal 2024 Financial Summary Total Revenue of $30.6 million, an increase of 23% year-over-year Total Revenue excluding SurVeil™ drug-coated balloon ("DCB") license fee revenue(1) of $29.6 million, an increase of 25% year-over-year GAAP net loss of $(0.8) million, compared to $(7.8) million in the prior-year period Adjusted EBITDA(2) of $3.9 million, compared to $(3.3) million
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KORU Medical Systems, Inc. (NASDAQ:KRMD) ("KORU Medical" or the "Company"), a leading medical technology company focused on the development, manufacturing, and commercialization of innovative and easy-to-use specialty subcutaneous infusion solutions that improve quality of life for patients, today announced the appointment of Andrew D. C. LaFrence as its Chief Financial Officer, effective July 10, 2023. Andy LaFrence joins KORU Medical bringing over 39 years of finance and accounting experience, including a track record of successfully executing and influencing growth-oriented business and M&A strategies, scaling businesses, developing and managing a global team of finance and accounting
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Needham upgraded Surmodics from Hold to Buy and set a new price target of $36.00
Needham downgraded Surmodics from Buy to Hold
Needham reiterated coverage of Surmodics with a rating of Buy and set a new price target of $58.00 from $70.00 previously
Needham reiterated coverage of Surmodics with a rating of Buy and set a new price target of $70.00 from $76.00 previously
Needham reiterated coverage of Surmodics with a rating of Buy and set a new price target of $76.00 from $68.00 previously
Barrington Research reiterated coverage of Surmodics with a rating of Outperform and set a new price target of $70.00 from $63.00 previously
Needham & Company LLC resumed coverage of Surmodics with a rating of Buy and set a new price target of $61.00
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its fourth quarter and fiscal year ended September 30, 2024. Fourth Quarter Fiscal 2024 Financial Summary Total Revenue of $33.2 million, an increase of 19% year-over-year Total Revenue excluding SurVeil™ drug-coated balloon ("DCB") license fee revenue(1) of $31.3 million, an increase of 17% year-over-year GAAP net loss of $(3.4) million, compared to net income of $6.7 million in the prior-year period Adjusted EBITDA(2) of $4.4 million, compared to $1.7 million in the prior-year period Fiscal 2024 Financial Summa
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its third quarter ended June 30, 2024. Third Quarter Fiscal 2024 Financial Summary Total Revenue of $30.3 million, compared to $52.5 million in the prior-year period which included $24.6 million in license fee revenue recognized upon receipt of a $27.0 million milestone payment associated with obtaining FDA premarket approval of the SurVeil™ drug-coated balloon ("DCB") Total Revenue excluding SurVeil DCB license fee revenue(1) of $29.2 million, an increase of 10% year-over-year GAAP net loss of $(7.6) million, co
Announces Commercial Launch of Two New Thrombectomy Devices for the Venous and Arterial Vasculatures: Pounce™ Venous and Pounce LP (Low Profile) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its second quarter ended March 31, 2024, and updated financial guidance for its fiscal year ending September 30, 2024. Second Quarter Fiscal 2024 Financial Summary Total Revenue of $32.0 million, an increase of 18% year-over-year Total Revenue excluding SurVeil™ drug-coated balloon ("DCB") license fee revenue(1) of $30.9 million, an increase of 19% year-over-year GAAP
Earnings Conference Call and Webcast Will Begin at 7:00 am (CT) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that second quarter of fiscal year 2024 financial results will be released before the market opens on Wednesday, May 1. Management will host a live webcast and conference call at 7:00 a.m. CT (8:00 a.m. ET) on Wednesday, May 1, to discuss the second quarter fiscal 2024 financial results and accomplishments and host a question-and-answer session. To access the webcast, please go to "Events & Presentations" under the "Investors" section of the Company's website at https://surmodi
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its first quarter ended December 31, 2023, and updated its financial guidance for fiscal year ending September 30, 2024. First Quarter Fiscal 2024 Financial Summary Total Revenue of $30.6 million, an increase of 23% year-over-year Total Revenue excluding SurVeil™ drug-coated balloon ("DCB") license fee revenue(1) of $29.6 million, an increase of 25% year-over-year GAAP net loss of $(0.8) million, compared to $(7.8) million in the prior-year period Adjusted EBITDA(2) of $3.9 million, compared to $(3.3) million
Earnings Conference Call and Webcast Will Begin at 7:00 am (CT) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that first quarter of fiscal year 2024 financial results will be released before the market opens on Thursday, February 1. Management will host a live webcast and conference call at 7:00 a.m. CT (8:00 a.m. ET) on Thursday, February 1, to discuss the first quarter fiscal 2024 financial results and accomplishments and host a question-and-answer session. To access the webcast, please go to "Events & Presentations" under the "Investors" section of the Company's website at https://s
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its fourth quarter and fiscal year ended September 30, 2023, and introduced its financial guidance for the fiscal year ending September 30, 2024. Fourth Quarter Fiscal 2023 Financial Summary Total Revenue of $28.0 million, an increase of 8% year-over-year Total Revenue excluding SurVeil™ DCB license fee revenue(1) of $26.9 million, an increase of 12% year-over-year GAAP Diluted EPS of $0.47, compared to $(1.06) in the prior-year period Non-GAAP Diluted EPS of $0.53, compared to $(0.26) in the prior-year period
Earnings Conference Call and Webcast Will Begin at 7:00 a.m. (CT) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that fourth quarter of fiscal year 2023 financial results will be released before the market opens on Wednesday, November 8. Management will host a live webcast and conference call at 7:00 a.m. CT (8:00 a.m. ET) on Wednesday, November 8, to discuss the fourth quarter of fiscal 2023 financial results and accomplishments, and to host a question-and-answer session. To access the webcast, please go to "Events & Presentations" under the "Investors" section of the company's website
Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its third quarter ended June 30, 2023, and updated its financial guidance for its fiscal year ending September 30, 2023. Third Quarter Fiscal 2023 Financial Summary Total Revenue of $52.5 million, an increase of 111% year-over-year Recognized $24.6 million in license fee revenue upon receipt of a $27.0 million milestone payment associated with obtaining FDA premarket approval of the SurVeil™ DCB under the company's Development and Distribution Agreement with Abbott GAAP Diluted EPS of $0.52, compared to $(0.41) i
Earnings Conference Call and Webcast Will Begin at 7:00 a.m. (CT) Surmodics, Inc. (NASDAQ:SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that third quarter of fiscal year 2023 financial results will be released before the market opens on Wednesday, August 2. Management will host a live webcast and conference call at 7:00 a.m. CT (8:00 a.m. ET) on Wednesday, August 2, to discuss the third quarter of fiscal 2023 financial results and accomplishments, and to host a question-and-answer session. To access the webcast, please go to "Events & Presentations" under the "Investors" section of the company's website at ht