Surmodics, Inc. (SRDX) Receives Consensus Rating of “Hold” from Brokerages
Surmodics, Inc. (NASDAQ:SRDX) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.00.
Several analysts have issued reports on the company. ValuEngine upgraded Surmodics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded Surmodics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd.
In other news, VP Joseph J. Stich sold 1,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.28, for a total transaction of $27,280.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund raised its position in shares of Surmodics by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 9,693 shares of the company’s stock worth $273,000 after purchasing an additional 88 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Surmodics by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,312 shares of the company’s stock worth $318,000 after purchasing an additional 262 shares during the period. Murphy Pohlad Asset Management LLC raised its position in shares of Surmodics by 0.5% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 64,500 shares of the company’s stock worth $1,815,000 after purchasing an additional 350 shares during the period. Legal & General Group Plc raised its position in shares of Surmodics by 2.3% during the 1st quarter. Legal & General Group Plc now owns 22,754 shares of the company’s stock worth $548,000 after purchasing an additional 506 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Surmodics by 2.7% during the 2nd quarter. Teachers Advisors LLC now owns 27,013 shares of the company’s stock worth $760,000 after purchasing an additional 708 shares during the period. Institutional investors and hedge funds own 84.83% of the company’s stock.
Shares of Surmodics (SRDX) opened at $29.15 on Tuesday. Surmodics has a one year low of $21.90 and a one year high of $32.80. The stock has a market capitalization of $398.01, a P/E ratio of 58.82 and a beta of 0.78.
Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.19. Surmodics had a return on equity of 6.18% and a net margin of 5.37%. The firm had revenue of $20.06 million for the quarter, compared to analysts’ expectations of $16.98 million. research analysts forecast that Surmodics will post -0.28 earnings per share for the current fiscal year.
Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.
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