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.
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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.
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