Surmodics, Inc. SRDX is expected to gain from strong growth in theIn Vitro Diagnostics (IVD)segment. Further, the company’s consistent efforts to boost research and development (R&D) functionalities buoy optimism.Price PerformanceIn a year’s time, shares of this Zacks Rank #2 (Buy) company have surged 75.2%, against the industry’s 4.5% decline and the S&P 500 index’s fall of 6.6%.Let us take a quick look at the factors that make Surmodics a solid pick for now.IVD Segment Driving GrowthSurmodics’ performance continues to be driven by the IVD unit. For more than 35 years, the segment has been a leader in developing an ELISA/EIA, immunoblot/western blot, line assay or microarray.In the fourth quarter of fiscal 2018, sales in the IVD increased 13.4% to $6.1 million. Per management, the segment saw strong growth in antigen and DNA slide sales in the quarter.However, operating income in the segment was $2.4 million in the reported quarter, marginally down from the year-ago quarter’s tally. Notably, IVD revenues in the fourth quarter reflected strong growth in antigen and DNA slide sales.Consistent Efforts to Boost R&DSurmodics’ efforts to improve R&D stature are a key growth driver. The company’s whole product solutions pipeline and sirolimus-based below-the-knee DCB program deserve a mention here.Fiscal fourth-quarter R&D expenses were $9.8 million, up 23.4% year over year. Considering the company’s strength in the R&D prospects, it has long-term goals of generating double-digit top line growth by the end of 2019 and EBITDA margins at or above 30% by fiscal 2021.Which Way Are Estimates Treading?For the first quarter of fiscal 2019, the Zacks Consensus Estimate is pegged at a loss of a penny, reflecting year-over-year decline of 101%. The same for revenues isat $18.9 million, marking 11.1% improvement year over year.For fiscal 2019, the Zacks Consensus Estimate for earnings is pinned at 8 cents. For revenues, estimates are pegged at $93.3 million, indicating 14.8% rise year over year.Surmodics, Inc. Price and Consensus Surmodics, Inc. Price and Consensus | Surmodics, Inc. QuoteOther Stocks to ConsiderA few other top-ranked stocks in the broader medical space are Veeva Systems Inc VEEV, Penumbra, Inc PENand OPKO Health, Inc OPK, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Veeva Systems’ long-term earnings growth rate is projected at 19.5%.Penumbra has a long-term earnings growth rate of 20%.OPKO Health’s long-term earnings growth rate is projected at 12%.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Veeva Systems Inc. (VEEV): Free Stock Analysis Report OPKO Health, Inc. (OPK): Free Stock Analysis Report Penumbra, Inc. (PEN): Free Stock Analysis Report Surmodics, Inc. (SRDX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research