TheStreet Lowers SurModics Inc. (SRDX) to Hold
Other analysts also recently issued research reports about the company. 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 note on Thursday, October 20th. Barrington Research cut SurModics from an outperform rating to a market perform rating in a report on Monday, November 21st. Finally, Sidoti cut SurModics from a buy rating to a neutral rating and set a $33.00 price objective for the company. in a report on Thursday, October 6th.
SurModics (NASDAQ:SRDX) opened at 23.95 on Monday. The stock has a market cap of $313.46 million, a PE ratio of 31.51 and a beta of 0.98. SurModics has a 12-month low of $17.45 and a 12-month high of $30.75. The firm’s 50-day moving average price is $26.64 and its 200 day moving average price is $26.23.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.17. The business had revenue of $18.20 million for the quarter, compared to the consensus estimate of $16.09 million. SurModics had a return on equity of 15.98% and a net margin of 13.99%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Analysts anticipate that SurModics will post $1.04 EPS for the current year.
In related news, CEO Gary R. Maharaj sold 5,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $25.22, for a total value of $126,100.00. Following the completion of the transaction, the chief executive officer now owns 130,207 shares of the company’s stock, valued at approximately $3,283,820.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its position 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 during the last quarter. Bank of Montreal Can acquired a new position in SurModics during the second quarter worth $190,000. Gabelli Funds LLC boosted its position 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 during the last quarter. Emerald Acquisition Ltd. acquired a new position in SurModics during the second quarter worth $4,581,000. Finally, Ameriprise Financial Inc. boosted its position in SurModics by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 65,348 shares of the company’s stock worth $1,535,000 after buying an additional 4,132 shares during the last quarter. 88.55% of the stock is 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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