SurModics Inc. (SRDX) Shares Up 4.4%
SurModics Inc. (NASDAQ:SRDX)’s share price shot up 4.4% during mid-day trading on Friday . The stock traded as high as $29.49 and last traded at $29.48, with a volume of 60,559 shares changing hands. The stock had previously closed at $28.24.
Separately, Zacks Investment Research lowered shares of SurModics from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th.
The company’s 50 day moving average price is $27.49 and its 200 day moving average price is $22.78. The firm has a market cap of $384.57 million and a P/E ratio of 44.07.
SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.25. During the same period last year, the business earned $0.30 earnings per share. The business had revenue of $19.97 million for the quarter, compared to analysts’ expectations of $16.31 million. The company’s revenue was up 25.6% on a year-over-year basis. On average, equities analysts predict that SurModics Inc. will post $1.04 earnings per share for the current fiscal year.
In related news, SVP Bryan K. Phillips sold 1,816 shares of SurModics stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $23.44, for a total transaction of $42,567.04. Following the completion of the transaction, the senior vice president now directly owns 25,350 shares of the company’s stock, valued at approximately $594,204. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Charles W. Olson sold 9,936 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $28.98, for a total transaction of $287,945.28. Following the sale, the vice president now owns 33,098 shares of the company’s stock, valued at $959,180.04. The disclosure for this sale can be found here.
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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