Surmodics Stock Fair Value Calculation – SURMODICS Reports Third Quarter Fiscal Year 2023 Earnings Results
August 8, 2023
🌥️Earnings Overview
On August 2 2023, SURMODICS ($NASDAQ:SRDX) reported its earnings results for the third quarter of fiscal year 2023, which ended on June 30 2023. The company earned a total revenue of USD 52.5 million, a 111.2% increase year over year, and reported net income of USD 7.4 million, a significant turnaround from the -5.6 million reported in the same period of the previous year.
Share Price
The stock opened at $34.4 and closed at $32.6, a 4.6% increase from its previous closing price of $31.2. Surmodics also achieved double digit growth in product sales, driven by strong demand for its core medical device solutions. Additionally, Surmodics announced that it had entered into a strategic collaboration with a leading medical device manufacturer to develop and launch a new line of medical devices using its patented technologies. The company is confident that this collaboration will strengthen its position in the medical device industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Surmodics. More…
| Total Revenues | Net Income | Net Margin |
| 130.6 | -22.96 | -17.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Surmodics. More…
| Operations | Investing | Financing |
| 6.76 | -0.74 | 18.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Surmodics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 188.9 | 76.49 | 7.95 |
Key Ratios Snapshot
Some of the financial key ratios for Surmodics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.2% | -36.3% | 1.0% |
| FCF Margin | ROE | ROA |
| 3.1% | 0.7% | 0.4% |
Analysis – Surmodics Stock Fair Value Calculation
We at GoodWhale have conducted a detailed analysis of SURMODICS‘s fundamentals. Our proprietary Valuation Line has calculated the fair value of a SURMODICS share at around $50.5. However, the stock is currently trading at $32.6, which means it is undervalued by 35.5%. We believe this presents a great opportunity for savvy investors to pick up the stock at a discount and pocket the difference when the market catches up to the true value of the company. More…
Peers
The company was founded in 1976 and is headquartered in Eden Prairie, Minnesota. Surmodics Inc’s competitors include Cyduct Diagnostics Inc, Guided Therapeutics Inc, and Guerbet SA.
– Cyduct Diagnostics Inc ($OTCPK:CYDX)
Cyduct Diagnostics Inc is a company that provides diagnostic services. It has a market cap of 349.68k. The company offers a range of services, including blood testing, genetic testing, and cancer screening.
– Guided Therapeutics Inc ($OTCPK:GTHP)
Guided Therapeutics Inc is a medical device company that develops and commercializes molecular diagnostics products. The Company’s products include the EVA System, a hand-held device that uses light to detect the presence of cervical cancer, and the LuViva Advanced Cervical Scan, a non-invasive diagnostic device that uses light and heat to detect cervical cancer. Guided Therapeutics Inc has a market cap of 10.63M as of 2022, a Return on Equity of 8.8%. The company’s products are used to diagnose and treat various diseases and conditions, including cancer. Guided Therapeutics Inc’s products are sold in the United States, Europe, and Asia.
– Guerbet SA ($LTS:0ELV)
Guerbet SA is a French-based company that provides contrast agents and medical devices for diagnostic and interventional imaging. The company’s products are used in X-ray, magnetic resonance imaging (MRI), ultrasound, and computed tomography (CT) examinations. Guerbet SA has a market capitalization of 211.1 million as of 2022 and a return on equity of 2.56%. The company’s products are used in a variety of medical applications, including cancer detection and treatment, cardiovascular disease diagnosis and treatment, and neurological disorders.
Summary
SURMODICS released its third quarter of fiscal year 2023 earnings report on August 2nd, revealing a significant 111.2% revenue increase year over year to USD 52.5 million and a net income of USD 7.4 million. This was a positive reversal from the losses of -5.6 million reported in the same period of the previous year. Investors reacted positively to the news, with stock price going up that day. This is a promising sign for investors considering this company, as it showcases strong quarterly gains and highlights its potential for long-term growth.
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