SurModics, Inc. (NASDAQ:SRDX) VP Joseph J. Stich sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $47.00, for a total value of $94,000.00. Following the sale, the vice president now owns 50,637 shares in the company, valued at approximately $2,379,939. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
SRDX traded down $2.04 during trading hours on Monday, reaching $43.54. The company’s stock had a trading volume of 102,626 shares, compared to its average volume of 112,376. SurModics, Inc. has a 52 week low of $38.06 and a 52 week high of $82.35. The company’s 50-day simple moving average is $41.02. The firm has a market cap of $614.78 million, a price-to-earnings ratio of 88.86, a PEG ratio of 15.19 and a beta of 1.18.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.10. SurModics had a return on equity of 4.87% and a net margin of 2.48%. The business had revenue of $24.34 million for the quarter, compared to analysts’ expectations of $22.76 million. Research analysts forecast that SurModics, Inc. will post 0.3 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Pearl River Capital LLC raised its position in shares of SurModics by 168.3% in the 1st quarter. Pearl River Capital LLC now owns 958 shares of the company’s stock worth $42,000 after acquiring an additional 601 shares in the last quarter. LS Investment Advisors LLC increased its position in SurModics by 53.3% during the first quarter. LS Investment Advisors LLC now owns 1,476 shares of the company’s stock worth $64,000 after purchasing an additional 513 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in SurModics by 1,080.3% during the first quarter. BNP Paribas Arbitrage SA now owns 2,762 shares of the company’s stock worth $120,000 after purchasing an additional 2,528 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in SurModics during the fourth quarter worth approximately $182,000. Finally, Aperio Group LLC purchased a new stake in SurModics during the second quarter worth approximately $187,000. 86.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on SRDX shares. ValuEngine upgraded SurModics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. BidaskClub upgraded SurModics from a “sell” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $68.00 price target (up previously from $65.00) on shares of SurModics in a research note on Thursday. Barrington Research set a $64.00 price target on SurModics and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research cut SurModics from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.00.
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 internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and 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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