SurModics Inc. (SRDX) Trading Up 4.4%
SurModics Inc. (NASDAQ:SRDX) shares were up 4.4% on Friday . The stock traded as high as $29.49 and last traded at $29.48, with a volume of 60,559 shares trading hands. The stock had previously closed at $28.24.
Separately, Zacks Investment Research downgraded SurModics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
The firm’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 PE ratio of 44.07.
SurModics (NASDAQ:SRDX) last posted its earnings results on Thursday, July 28th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.25. The company had revenue of $19.97 million for the quarter, compared to the consensus estimate of $16.31 million. During the same quarter last year, the business earned $0.30 earnings per share. SurModics’s quarterly revenue was up 25.6% on a year-over-year basis. Analysts anticipate that SurModics Inc. will post $1.04 EPS for the current year.
In other news, VP Charles W. Olson sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $27.08, for a total value of $338,500.00. Following the sale, the vice president now directly owns 35,531 shares of the company’s stock, valued at $962,179.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bryan K. Phillips sold 1,816 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $23.44, for a total value of $42,567.04. Following the completion of the sale, the senior vice president now directly owns 25,350 shares in the company, valued at $594,204. 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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