Down -5.46% in 4 Weeks, Here's Why SurModics (SRDX) Looks Ripe for a Turnaround

Core Viewpoint - SurModics (SRDX) has experienced a downtrend with a 5.5% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to analysts' positive earnings outlook [1] Technical Analysis - The Relative Strength Index (RSI) is a key indicator for identifying oversold stocks, with a reading below 30 typically indicating oversold conditions [2] - Stocks oscillate between overbought and oversold states, and the RSI helps investors identify potential price reversals [3] - SRDX has an RSI reading of 21.52, indicating that selling pressure may be exhausting, which could lead to a price rebound [5] Fundamental Analysis - Analysts have raised earnings estimates for SRDX, with a 4.1% increase in the consensus EPS estimate over the last 30 days, suggesting potential price appreciation [6] - SRDX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, indicating strong potential for a near-term turnaround [7]