SurModics (SRDX) Cut to “Sell” at BidaskClub

BidaskClub cut shares of SurModics (NASDAQ:SRDX) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Separately, Zacks Investment Research lowered shares of SurModics from a hold rating to a sell rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $35.50.

SurModics (NASDAQ SRDX) opened at $27.45 on Wednesday. The firm has a market cap of $360.91, a PE ratio of 65.60 and a beta of 0.81. SurModics has a 1 year low of $21.90 and a 1 year high of $34.15.

SurModics (NASDAQ:SRDX) last issued its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.15. The firm had revenue of $17.01 million during the quarter, compared to analyst estimates of $17.69 million. SurModics had a net margin of 0.10% and a return on equity of 5.04%. equities analysts expect that SurModics will post -0.05 earnings per share for the current fiscal year.

In other news, VP Joseph J. Stich sold 1,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $30.18, for a total value of $30,180.00. Following the sale, the vice president now directly owns 46,450 shares of the company’s stock, valued at $1,401,861. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in SRDX. Teachers Advisors LLC lifted its holdings in shares of SurModics by 2.7% in the second quarter. Teachers Advisors LLC now owns 27,013 shares of the company’s stock worth $760,000 after buying an additional 708 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of SurModics by 10.7% in the second quarter. TIAA CREF Investment Management LLC now owns 58,929 shares of the company’s stock worth $1,659,000 after buying an additional 5,678 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in shares of SurModics by 15.8% in the second quarter. Nationwide Fund Advisors now owns 8,427 shares of the company’s stock worth $237,000 after buying an additional 1,149 shares in the last quarter. Thrivent Financial For Lutherans purchased a new stake in shares of SurModics in the second quarter worth about $226,000. Finally, Northern Trust Corp lifted its holdings in shares of SurModics by 4.6% in the second quarter. Northern Trust Corp now owns 186,125 shares of the company’s stock worth $5,239,000 after buying an additional 8,231 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/17/surmodics-srdx-cut-to-sell-at-bidaskclub.html.

About SurModics

Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.

Receive News & Ratings for SurModics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SurModics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply