When it comes to consistency, drug delivery technology company SurModics
What I found to be most notable was SurModics' shift toward greater diversification. In FY 2004, the company derived 52% of its revenue from a partnership that it has with Johnson & Jonhson
This transition comes at an ideal time, as the drug-eluting stent industry has undergone a great deal of turmoil in recent quarters. Despite the decreased usage of drug-eluting stents, companies such as Abbott
SurModics continues to build for the future. In FY 2007, it engineered multiple acquisitions, as well as secured a $20 million payment from Merck
The sound management decisions that have been demonstrated by this company since its IPO have paid major dividends for shareholders over the last decade. SurModics is now trending away from an overreliance on revenues from drug-eluting stents and is experiencing strong growth in the other areas of its business. This should lead to more healthy results during its next 10 years as a publicly traded company.
More Foolish stent coverage:
How do you think SurModics will do in the next few weeks? How about the next few years? Join CAPS, the Fool's community-intelligence stock-rating service, and tell thousands of fellow investors how you feel.