SurModics, Inc. (SRDX)
by Zacks Equity ResearchMay 25, 2012 | Comments : 0 Recommended this article: (0)
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We are also pleased with the sale of the SurModics Pharmaceuticals unit, as this has allowed the company to focus on its core businesses. Performance of the company has been steadily improving since a disappointing fiscal 2010. The company took a number of corrective measures, including a change at its helm.
We believe SurModics will continue performing well going forward, and have raised our earnings estimates for fiscal 2012 and 2013. In view of these positives, we upgrade SurModics to Outperform. Our target price is $17.00.
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