SurModics Inc. (NASDAQ:SRDX) Receives Average Recommendation of “Strong Buy” from Analysts
Shares of SurModics Inc. (NASDAQ:SRDX) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price target of $33.63 for the company and are predicting that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also assigned SurModics an industry rank of 87 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded SurModics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
In related news, Director Susan E. Knight sold 1,548 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $28.64, for a total transaction of $44,334.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Charles W. Olson sold 12,500 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $27.08, for a total value of $338,500.00. Following the sale, the vice president now owns 35,531 shares of the company’s stock, valued at approximately $962,179.48. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SRDX. Bank of Montreal Can acquired a new stake in shares of SurModics during the second quarter valued at $190,000. Capstone Asset Management Co. acquired a new stake in shares of SurModics during the second quarter valued at $203,000. Metropolitan Life Insurance Co. NY increased its stake in shares of SurModics by 44.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 12,386 shares of the company’s stock valued at $228,000 after buying an additional 3,824 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of SurModics by 10.2% in the first quarter. Renaissance Technologies LLC now owns 832,138 shares of the company’s stock valued at $15,320,000 after buying an additional 77,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of SurModics by 23.3% in the first quarter. Wellington Management Group LLP now owns 684,515 shares of the company’s stock valued at $12,601,000 after buying an additional 129,500 shares during the last quarter. Hedge funds and other institutional investors own 86.42% of the company’s stock.
SurModics (NASDAQ:SRDX) traded down 0.20% on Friday, reaching $29.96. The company had a trading volume of 11,556 shares. SurModics has a one year low of $17.45 and a one year high of $30.14. The company has a 50-day moving average of $28.64 and a 200 day moving average of $23.68. The stock has a market cap of $390.83 million, a price-to-earnings ratio of 44.78 and a beta of 1.08.
SurModics (NASDAQ:SRDX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.25. SurModics had a return on equity of 17.11% and a net margin of 14.45%. The company earned $19.97 million during the quarter, compared to the consensus estimate of $16.31 million. During the same quarter in the prior year, the company posted $0.30 EPS. The firm’s revenue was up 25.6% on a year-over-year basis. On average, equities research analysts predict that SurModics will post $1.04 EPS for the current year.
SurModics Company Profile
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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