SurModics (SRDX) Cut to “Sell” at BidaskClub

SurModics (NASDAQ:SRDX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, February 14th.

Separately, Zacks Investment Research upgraded SurModics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned 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) traded up $0.05 during midday trading on Wednesday, hitting $27.15. The stock had a trading volume of 26,512 shares, compared to its average volume of 23,667. SurModics has a 12 month low of $21.90 and a 12 month high of $34.15. The firm has a market capitalization of $357.63, a PE ratio of 64.52 and a beta of 0.81.

SurModics (NASDAQ:SRDX) last released its earnings results on Thursday, February 8th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 5.04% and a net margin of 0.10%. research analysts forecast 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 company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $30.18, for a total value of $30,180.00. Following the completion of the sale, the vice president now owns 46,450 shares of the company’s stock, valued at $1,401,861. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in SurModics by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 634,698 shares of the company’s stock valued at $19,676,000 after purchasing an additional 3,921 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SurModics by 3.3% in the second quarter. Vanguard Group Inc. now owns 717,091 shares of the company’s stock valued at $20,187,000 after purchasing an additional 22,977 shares during the last quarter. Foundry Partners LLC purchased a new position in SurModics in the third quarter valued at about $2,746,000. Trigran Investments Inc. boosted its holdings in SurModics by 2.0% in the third quarter. Trigran Investments Inc. now owns 1,283,578 shares of the company’s stock valued at $39,791,000 after purchasing an additional 24,965 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in SurModics by 2.7% in the second quarter. Teachers Advisors LLC now owns 27,013 shares of the company’s stock valued at $760,000 after purchasing an additional 708 shares during the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

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SurModics Company Profile

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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