• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Surmodics tops Q4 sales estimates, misses on EPS

November 9, 2018 By Sarah Faulkner

SurModicsShares in Surmodics (NSDQ:SRDX) fell today after the medical device maker topped sales expectations but missed EPS estimates on Wall Street with its fourth-quarter financial results.

The Eden Prairie, Minn.-based company was in the red this quarter, posting a net loss of -$1.8 million, or -13¢ per share, on sales of $23 million for the three months ended Sept. 30. Sales were up 15% compared to the same period last year.

Adjusted to exclude 1-time items, EPS were -5¢, just 2¢ behind consensus on The Street. The company beat revenue expectations, though – analysts were looking for sales of $21.6 million.

“We continue to drive strong revenue growth and solid operational performance as we execute on our strategic objectives,” president & CEO Gary Maharaj said in prepared remarks. “The positive twelve-month data recently presented from Preveil, the early feasibility study of our SurVeil DCB and the recent submission for first in-human study for our AV access DCB, AVess, demonstrate meaningful progress towards our whole-products solutions initiatives.”

Surmodics said it expects to post sales of $92 million to $97 million for the full fiscal year of 2019.

SRDX shares were trading at $64.00 apiece today in morning activity, down -3.9%.

Want to stay on top of DDBN content? Sign up for our e-mail newsletter for a weekly dose of drug-device news.

Filed Under: Drug-Device Combinations, Featured, MassDevice Earnings Roundup, Pharmaceuticals, Vascular, Wall Street Beat Tagged With: SurModics Inc.

IN CASE YOU MISSED IT

  • Medtronic to invest $50M in India Diabetes center
  • Flat Medical partners with Mercury Medical on smart syringe distribution
  • Glucotrack to effect a reverse stock split
  • Medtronic unveils ‘MiniMed’ as name for soon-to-be separated Diabetes unit
  • Insulet, Marvel collab to unveil comic book hero with type 1 diabetes

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS