Barrington analyst Michael Petusky has maintained their neutral stance on SRDX stock, giving a Hold rating on August 8.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Michael Petusky has given his Hold rating due to a combination of factors impacting SurModics. The company’s recent financial performance showed mixed results, with Q3 revenues surpassing expectations but still reflecting a year-over-year decline. While the thrombectomy segment demonstrated strong growth, other areas like the Surveil DCB revenue faced challenges, and royalty and licensing revenues fell short of estimates.
Additionally, the ongoing litigation concerning the acquisition by GTCR adds uncertainty. Although there is potential for a favorable outcome, the legal proceedings and associated costs are significant concerns. The possibility of a break-up fee if the deal is blocked provides some financial cushion, but the overall situation remains complex and unresolved. These elements contribute to the decision to maintain a Hold rating on the stock.