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Biotech / Medical : SRDX - SurModics - Biotech IPO
SRDX 27.57-2.0%Apr 17 4:00 PM EDT
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From: Lance Bredvold5/1/2024 10:21:15 AM
1 Recommendation

Recommended By
Harshu Vyas

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Another earnings report and another positive surprise. Stock up 26% today even though a loss is still predicted for the year. But earnings from Surveil drug coated balloon at a major drug company and also the in house sale of Pounce thrombectomy catheters continue to increase at a pace above predictions. I don't dare recommend this company to the value investors I've been following as my confidence is all based on the CEO and CFO's under promising and over delivering.. They are still losing money, have taken on some debt for the first time ever I believe, and the share count is increasing slightly. Yet there are enough investors like me who have confidence in the ultimate profitability of the company that they can move the price hugely after another promising quarterly report. I have bought up to my limit under $30 and recently investors became scared enough that the price was down to $26 again. I bought at $28, but chickened out as it continued to drop but I still own way more than seems reasonable for this little company. I've visited their facilities, owned stock in them since 2000 or so, made quite a bit on fluctuations in the price, and just held on while that California hot shot bought an Alabama research company unwisely. But that has been painfully divested and they are back to a factory in Ireland plus the Minnesota research and development facility (looks like a converted strip mall) and delivering promising results. Wish I'd bought more at $26.
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