Surmodics ‘methodically preparing for a new phase of growth,’ says Lake Street

Lake Street analyst Brooks O’Neil says Surmodics reported “solid” Q1 results above the firm’s forecast and consensus and provided guidance for FY24 that was above the firm’s estimate. The firm, which believes Surmodics is “focused on what it can control and is methodically preparing for a new phase of growth dead ahead,” affirms a Buy rating and our $75 price target on the shares.