SurModics Inc. (NASDAQ:SRDX) – Equities researchers at Barrington Research reduced their Q3 2017 earnings per share estimates for shares of SurModics in a research note issued on Monday. Barrington Research analyst M. Petusky now forecasts that the firm will post earnings of $0.06 per share for the quarter, down from their previous forecast of $0.20. Barrington Research has a “Market Perform” rating on the stock. Barrington Research also issued estimates for SurModics’ Q4 2017 earnings at $0.03 EPS, FY2017 earnings at $0.32 EPS and FY2018 earnings at $0.38 EPS.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of SurModics from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Sidoti lowered shares of SurModics from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research note on Thursday, October 6th.

Earnings History and Estimates for SurModics (NASDAQ:SRDX)

Shares of SurModics (NASDAQ:SRDX) opened at 25.90 on Wednesday. The firm has a 50-day moving average of $26.97 and a 200 day moving average of $26.14. The stock has a market capitalization of $338.98 million, a PE ratio of 34.08 and a beta of 0.98. SurModics has a 1-year low of $17.45 and a 1-year high of $30.75.

SurModics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 16th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.17. The firm earned $18.20 million during the quarter, compared to analysts’ expectations of $16.09 million. SurModics had a net margin of 13.99% and a return on equity of 15.98%. SurModics’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS.

In related news, CEO Gary R. Maharaj sold 5,000 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $25.22, for a total transaction of $126,100.00. Following the completion of the sale, the chief executive officer now directly owns 130,207 shares of the company’s stock, valued at $3,283,820.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.20% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SRDX. Bank of Montreal Can purchased a new stake in SurModics during the second quarter worth about $190,000. Gabelli Funds LLC raised its stake in SurModics by 2.4% in the second quarter. Gabelli Funds LLC now owns 128,626 shares of the company’s stock worth $3,020,000 after buying an additional 3,000 shares in the last quarter. Prudential Financial Inc. raised its stake in SurModics by 1.0% in the second quarter. Prudential Financial Inc. now owns 46,622 shares of the company’s stock worth $1,095,000 after buying an additional 460 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in SurModics during the second quarter worth about $4,581,000. Finally, Wedge Capital Management L L P NC raised its stake in SurModics by 300.5% in the second quarter. Wedge Capital Management L L P NC now owns 53,237 shares of the company’s stock worth $251,000 after buying an additional 39,943 shares in the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.

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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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