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SRDX

Surmodics NasdaqGS:SRDX Stock Report

Last Price

US$37.23

Market Cap

US$520.8m

7D

0.8%

1Y

-31.6%

Updated

30 Jun, 2022

Data

Company Financials +
SRDX fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance0/6
Financial Health3/6
Dividends0/6

SRDX Stock Overview

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.

Rewards

Revenue is forecast to grow 13.15% per year

Risk Analysis

No risks detected for SRDX from our risk checks.

Surmodics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Surmodics
Historical stock prices
Current Share PriceUS$37.23
52 Week HighUS$62.27
52 Week LowUS$32.43
Beta1.06
1 Month Change-5.10%
3 Month Change-16.49%
1 Year Change-31.59%
3 Year Change-9.46%
5 Year Change33.92%
Change since IPO816.43%

Recent News & Updates

May 03
Is It Too Late To Consider Buying Surmodics, Inc. (NASDAQ:SRDX)?

Is It Too Late To Consider Buying Surmodics, Inc. (NASDAQ:SRDX)?

While Surmodics, Inc. ( NASDAQ:SRDX ) might not be the most widely known stock at the moment, it saw significant share...

Shareholder Returns

SRDXUS Medical EquipmentUS Market
7D0.8%3.4%1.6%
1Y-31.6%-24.5%-20.8%

Return vs Industry: SRDX underperformed the US Medical Equipment industry which returned -24.5% over the past year.

Return vs Market: SRDX underperformed the US Market which returned -20.8% over the past year.

Price Volatility

Is SRDX's price volatile compared to industry and market?
SRDX volatility
SRDX Average Weekly Movement6.4%
Medical Equipment Industry Average Movement10.4%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

Stable Share Price: SRDX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: SRDX's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1979389Gary Maharajhttps://www.surmodics.com

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. It operates in two segments, Medical Device and In Vitro Diagnostics (IVD). 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.

Surmodics Fundamentals Summary

How do Surmodics's earnings and revenue compare to its market cap?
SRDX fundamental statistics
Market CapUS$520.85m
Earnings (TTM)-US$10.47m
Revenue (TTM)US$96.95m

5.4x

P/S Ratio

-49.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SRDX income statement (TTM)
RevenueUS$96.95m
Cost of RevenueUS$69.92m
Gross ProfitUS$27.03m
Other ExpensesUS$37.50m
Earnings-US$10.47m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.75
Gross Margin27.88%
Net Profit Margin-10.80%
Debt/Equity Ratio7.5%

How did SRDX perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is SRDX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SRDX?

Other financial metrics that can be useful for relative valuation.

SRDX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5.3x
Enterprise Value/EBITDA-105.9x
PEG Ration/a

Price to Sales Ratio vs Peers

How does SRDX's PS Ratio compare to its peers?

SRDX PS Ratio vs Peers
The above table shows the PS ratio for SRDX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average50.1x
SGHT Sight Sciences
7.8x36.0%US$427.8m
OFIX Orthofix Medical
1x6.0%US$468.7m
NNOX Nano-X Imaging
189.1x95.1%US$594.8m
CSII Cardiovascular Systems
2.4x8.9%US$597.5m
SRDX Surmodics
5.4x13.1%US$520.8m

Price-To-Sales vs Peers: SRDX is good value based on its Price-To-Sales Ratio (5.4x) compared to the peer average (50.1x).


Price to Earnings Ratio vs Industry

How does SRDX's PE Ratio compare vs other companies in the US Medical Equipment Industry?

Price-To-Sales vs Industry: SRDX is expensive based on its Price-To-Sales Ratio (5.4x) compared to the US Medical Equipment industry average (3.8x)


Price to Sales Ratio vs Fair Ratio

What is SRDX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SRDX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.4x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: SRDX is expensive based on its Price-To-Sales Ratio (5.4x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).


Share Price vs Fair Value

What is the Fair Price of SRDX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SRDX ($37.23) is trading above our estimate of fair value ($32.21)

Significantly Below Fair Value: SRDX is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SRDX's PEG Ratio to determine if it is good value.


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Future Growth

How is Surmodics forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


108.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SRDX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: SRDX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: SRDX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: SRDX's revenue (13.1% per year) is forecast to grow faster than the US market (8.3% per year).

High Growth Revenue: SRDX's revenue (13.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SRDX's Return on Equity is forecast to be low in 3 years time (7.2%).


Discover growth companies

Past Performance

How has Surmodics performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-12.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SRDX is currently unprofitable.

Growing Profit Margin: SRDX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SRDX is unprofitable, and losses have increased over the past 5 years at a rate of 12.5% per year.

Accelerating Growth: Unable to compare SRDX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SRDX is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (12.9%).


Return on Equity

High ROE: SRDX has a negative Return on Equity (-7.86%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Surmodics's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SRDX's short term assets ($64.7M) exceed its short term liabilities ($28.4M).

Long Term Liabilities: SRDX's short term assets ($64.7M) exceed its long term liabilities ($22.6M).


Debt to Equity History and Analysis

Debt Level: SRDX has more cash than its total debt.

Reducing Debt: Insufficient data to determine if SRDX's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: SRDX's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if SRDX's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Surmodics's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate SRDX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SRDX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SRDX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SRDX's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SRDX has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Gary Maharaj (58 yo)

11.5yrs

Tenure

US$2,938,269

Compensation

Mr. Gary R. Maharaj has been the Chief Executive Officer and President at Surmodics, Inc. since December 27, 2010. Mr. Maharaj served as the Chief Executive Officer and President at Arizant Inc. from 2006...


CEO Compensation Analysis

Compensation vs Market: Gary's total compensation ($USD2.94M) is about average for companies of similar size in the US market ($USD2.86M).

Compensation vs Earnings: Gary's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: SRDX's management team is considered experienced (4.1 years average tenure).


Board Members

Experienced Board: SRDX's board of directors are seasoned and experienced ( 11.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Surmodics, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Surmodics, Inc.
  • Ticker: SRDX
  • Exchange: NasdaqGS
  • Founded: 1979
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Implied Market Cap: US$520.848m
  • Shares outstanding: 13.99m
  • Website: https://www.surmodics.com

Number of Employees


Location

  • Surmodics, Inc.
  • 9924 West 74th Street
  • Eden Prairie
  • Minnesota
  • 55344-3523
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
Annual Earnings2021/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.