Shares of SurModics Inc. (NASDAQ:SRDX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.74 and last traded at $28.65, with a volume of 27,425 shares. The stock had previously closed at $27.83.

SRDX has been the subject of a number of recent research reports. Zacks Investment Research raised SurModics from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Friday, April 15th. TheStreet raised SurModics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Finally, Barrington Research increased their price target on SurModics from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 3rd.

The firm has a market capitalization of $376.87 million and a price-to-earnings ratio of 43.18. The firm has a 50-day moving average price of $24.94 and a 200-day moving average price of $21.50.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.25. The business earned $19.97 million during the quarter, compared to analysts’ expectations of $16.31 million. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. On average, equities analysts predict that SurModics Inc. will post $1.04 earnings per share for the current year.

In other SurModics news, VP Charles W. Olson sold 12,500 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $27.08, for a total transaction of $338,500.00. Following the sale, the vice president now directly owns 35,531 shares in the company, valued at $962,179.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bryan K. Phillips sold 1,816 shares of the business’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $23.44, for a total value of $42,567.04. Following the sale, the senior vice president now owns 25,350 shares in the company, valued at $594,204. The disclosure for this sale can be found here.

An institutional investor recently raised its position in SurModics stock. GSA Capital Partners LLP increased its position in SurModics Inc. (NASDAQ:SRDX) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 63,804 shares of the company’s stock after buying an additional 3,024 shares during the period. GSA Capital Partners LLP owned about 0.49% of SurModics worth $1,293,000 as of its most recent SEC filing.

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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