Gary R. Maharaj Sells 5,000 Shares of SurModics Inc. (SRDX) Stock
SurModics Inc. (NASDAQ:SRDX) CEO Gary R. Maharaj sold 5,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $29.55, for a total transaction of $147,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of SurModics Inc. (NASDAQ:SRDX) opened at 29.23 on Friday. SurModics Inc. has a 12 month low of $17.45 and a 12 month high of $30.75. The stock’s 50 day moving average is $29.04 and its 200 day moving average is $24.48. The company has a market capitalization of $381.31 million, a P/E ratio of 43.69 and a beta of 0.97.
SurModics (NASDAQ:SRDX) last released its earnings results on Thursday, July 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.25. The company had revenue of $19.97 million for the quarter, compared to the consensus estimate of $16.31 million. SurModics had a net margin of 14.45% and a return on equity of 17.11%. SurModics’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, equities analysts predict that SurModics Inc. will post $1.04 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. Sidoti downgraded shares of SurModics from a “buy” rating to a “neutral” rating in a research report on Thursday. Zacks Investment Research downgraded shares of SurModics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th.
Hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in SurModics during the first quarter valued at $101,000. Bank of Montreal Can bought a new stake in SurModics during the second quarter valued at $190,000. Capstone Asset Management Co. bought a new stake in SurModics during the second quarter valued at $203,000. Public Sector Pension Investment Board bought a new stake in SurModics during the second quarter valued at $209,000. Finally, TFS Capital LLC bought a new stake in SurModics during the second quarter valued at $224,000. 86.42% of the stock is currently owned by institutional investors.
SurModics, Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company is focused on to transform its medical device business from being a provider of coating technologies to offering whole product solutions to medical device customers.
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