SurModics, Inc. (NASDAQ:SRDX) CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $62.21, for a total value of $311,050.00. Following the completion of the transaction, the chief executive officer now directly owns 166,086 shares in the company, valued at $10,332,210.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of SRDX stock traded up $0.17 during trading hours on Monday, reaching $65.19. 63,890 shares of the company traded hands, compared to its average volume of 77,014. SurModics, Inc. has a 12-month low of $25.00 and a 12-month high of $82.35. The stock has a market cap of $868.12 million, a P/E ratio of 127.82, a PEG ratio of 216.73 and a beta of 0.90.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings data on Monday, August 6th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.51. SurModics had a positive return on equity of 7.53% and a negative net margin of 2.94%. The firm had revenue of $22.23 million for the quarter, compared to analysts’ expectations of $19.81 million. As a group, equities analysts forecast that SurModics, Inc. will post 0.43 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new position in shares of SurModics during the 2nd quarter valued at about $170,000. CAPROCK Group Inc. purchased a new position in shares of SurModics during the 3rd quarter valued at about $210,000. SG Americas Securities LLC lifted its position in shares of SurModics by 36.9% during the 2nd quarter. SG Americas Securities LLC now owns 4,376 shares of the company’s stock valued at $242,000 after buying an additional 1,180 shares in the last quarter. South State Corp purchased a new position in shares of SurModics during the 2nd quarter valued at about $243,000. Finally, First Quadrant L P CA purchased a new position in shares of SurModics during the 3rd quarter valued at about $263,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on SRDX. BidaskClub raised SurModics from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Barrington Research raised their target price on SurModics to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 7th. Lake Street Capital raised their target price on SurModics to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $74.00 target price on shares of SurModics in a research report on Monday, August 6th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. SurModics has a consensus rating of “Buy” and a consensus target price of $71.75.
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SurModics Company Profile
Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and Ireland. It operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.
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