Barrington Research Analysts Cut Earnings Estimates for SurModics Inc. (SRDX)
SurModics Inc. (NASDAQ:SRDX) – Barrington Research lowered their Q1 2017 earnings estimates for SurModics in a report issued on Monday. Barrington Research analyst M. Petusky now forecasts that the firm will earn $0.12 per share for the quarter, down from their previous estimate of $0.18. Barrington Research currently has a “Market Perform” rating on the stock. Barrington Research also issued estimates for SurModics’ Q2 2017 earnings at $0.11 EPS.
SurModics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.17. The business had revenue of $18.20 million for the quarter, compared to analyst estimates of $16.09 million. SurModics had a return on equity of 15.98% and a net margin of 13.99%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS.
SRDX has been the topic of several other reports. Zacks Investment Research upgraded SurModics from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Thursday, October 20th. Sidoti lowered SurModics from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Thursday, October 6th.
SurModics (NASDAQ:SRDX) opened at 25.90 on Tuesday. The stock’s 50 day moving average price is $26.97 and its 200-day moving average price is $26.14. SurModics has a one year low of $17.45 and a one year high of $30.75. The firm has a market cap of $338.98 million, a price-to-earnings ratio of 34.08 and a beta of 0.98.
In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of SurModics stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Company insiders own 7.20% of the company’s stock.
Several hedge funds have recently modified their holdings of SRDX. Capstone Asset Management Co. raised its stake in shares of SurModics by 1.6% in the third quarter. Capstone Asset Management Co. now owns 8,780 shares of the company’s stock worth $264,000 after buying an additional 140 shares during the period. California State Teachers Retirement System raised its stake in shares of SurModics by 1.1% in the third quarter. California State Teachers Retirement System now owns 27,414 shares of the company’s stock worth $825,000 after buying an additional 300 shares during the period. First Quadrant L P CA raised its stake in shares of SurModics by 9.4% in the third quarter. First Quadrant L P CA now owns 4,374 shares of the company’s stock worth $132,000 after buying an additional 374 shares during the period. Prudential Financial Inc. raised its stake in shares of SurModics by 0.9% in the first quarter. Prudential Financial Inc. now owns 46,162 shares of the company’s stock worth $850,000 after buying an additional 400 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of SurModics by 2.2% in the third quarter. Two Sigma Advisers LP now owns 41,073 shares of the company’s stock worth $1,236,000 after buying an additional 900 shares during the period. Institutional investors own 87.41% of the company’s stock.
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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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