SRDX Stock Summary and Trading Ideas (Surmodics | NASDAQ:SRDX)

Surmodics Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The company's mission is to improve the treatment and detection of disease by using its technology to provide solutions to difficult medical devices and diagnostic challenges. It has two reportable segments: Medical device unit; Manufacture of performance coatings, including surface modification coating technologies and the Vitro diagnostics unit; Manufacture of chemical and biological components used in in vitro diagnostic immunoassay and molecular tests within the diagnostic and biomedical research markets. Surmodics derives majority of its revenue from the Medical Device segment.

Surmodics trades on the NASDAQ stock market under the symbol SRDX.

As of April 19, 2024, SRDX stock price climbed to $26.49 with 39,911 million shares trading.

SRDX has a beta of 1.13, meaning it tends to be more sensitive to market movements. SRDX has a correlation of 0.08 to the broad based SPY ETF.

SRDX has a market cap of $377.05 million. This is considered a Small Cap stock.

Last quarter Surmodics reported $31 million in Revenue and $.00 earnings per share. This beat revenue expectation by $912,000 and exceeded earnings estimates by $.30.

In the last 3 years, SRDX stock traded as high as $62.27 and as low as $16.00.

The top ETF exchange traded funds that SRDX belongs to (by Net Assets): VTI, IWM, VXF, IWO, IHI.

SRDX has underperformed the market in the last year with a return of +12.5%, while the SPY ETF gained +21.2%. In the last 3 month period, SRDX fell short of the market, returning -22.0%, while SPY returned +3.0%. However, in the most recent 2 weeks SRDX has outperformed the stock market by returning -2.2%, while SPY returned -4.5%.

SRDX support price is $25.64 and resistance is $27.14 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SRDX stock will trade within this expected range on the day.