SurModics, Inc. (NASDAQ:SRDX) VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $33.53, for a total value of $33,530.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of SurModics, Inc. (NASDAQ SRDX) traded down $0.25 during midday trading on Thursday, reaching $35.95. The company’s stock had a trading volume of 6,319 shares, compared to its average volume of 30,129. SurModics, Inc. has a 12-month low of $21.90 and a 12-month high of $36.85. The firm has a market cap of $481.02, a price-to-earnings ratio of 86.79 and a beta of 0.75.
SurModics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.15. SurModics had a return on equity of 5.04% and a net margin of 0.10%. The firm had revenue of $17.01 million during the quarter, compared to analyst estimates of $17.69 million. research analysts anticipate that SurModics, Inc. will post -0.05 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in SurModics by 2.8% during the 4th quarter. BlackRock Inc. now owns 1,775,637 shares of the company’s stock valued at $49,717,000 after purchasing an additional 48,184 shares in the last quarter. Trigran Investments Inc. grew its stake in SurModics by 2.0% during the 3rd 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 in the last quarter. Vanguard Group Inc. grew its stake in SurModics by 3.3% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in SurModics by 0.6% during the 3rd 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 in the last quarter. Finally, State Street Corp grew its stake in SurModics by 0.4% during the 2nd quarter. State Street Corp now owns 326,497 shares of the company’s stock valued at $9,190,000 after purchasing an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 84.18% of the company’s stock.
SRDX has been the topic of several analyst reports. Zacks Investment Research downgraded SurModics from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. BidaskClub downgraded SurModics from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Needham & Company LLC initiated coverage on SurModics in a report on Tuesday, February 27th. They set a “buy” rating and a $42.00 target price on the stock. Lake Street Capital reiterated a “buy” rating and set a $38.00 target price (up from $35.00) on shares of SurModics in a report on Wednesday, February 28th. Finally, Barrington Research upgraded SurModics from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $37.00.
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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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