Shares of SurModics Inc. (NASDAQ:SRDX) fell 3.3% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $28.73 and last traded at $29.42, with a volume of 64,456 shares. The stock had previously closed at $30.42.

Specifically, Director Susan E. Knight sold 1,548 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $28.64, for a total transaction of $44,334.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Charles W. Olson sold 12,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $27.08, for a total value of $338,500.00. Following the transaction, the vice president now directly owns 35,531 shares in the company, valued at $962,179.48. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.

Several brokerages recently issued reports on SRDX. Sidoti lowered SurModics from a “buy” rating to a “neutral” rating in a research report on Thursday. Zacks Investment Research lowered SurModics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th.

The stock has a market cap of $381.31 million, a price-to-earnings ratio of 43.69 and a beta of 0.97. The firm’s 50-day moving average price is $29.04 and its 200 day moving average price is $24.48.

SurModics (NASDAQ:SRDX) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.25. The business earned $19.97 million during the quarter, compared to the consensus estimate of $16.31 million. SurModics had a return on equity of 17.11% and a net margin of 14.45%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. On average, equities research analysts anticipate that SurModics Inc. will post $1.04 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in shares of SurModics by 2.3% in the second quarter. BlackRock Fund Advisors now owns 850,782 shares of the company’s stock valued at $19,976,000 after buying an additional 19,338 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of SurModics by 10.2% in the first quarter. Renaissance Technologies LLC now owns 832,138 shares of the company’s stock valued at $15,320,000 after buying an additional 77,200 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of SurModics by 23.3% in the first quarter. Wellington Management Group LLP now owns 684,515 shares of the company’s stock valued at $12,601,000 after buying an additional 129,500 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SurModics by 9.1% in the second quarter. Vanguard Group Inc. now owns 617,417 shares of the company’s stock valued at $14,497,000 after buying an additional 51,577 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of SurModics by 10.2% in the first quarter. Royce & Associates LP now owns 576,600 shares of the company’s stock valued at $10,615,000 after buying an additional 53,400 shares in the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.

About SurModics

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.

5 Day Chart for NASDAQ:SRDX

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