SurModics Inc. (SRDX) Stock Price Down 3.3% After Insider Selling
Shares of SurModics Inc. (NASDAQ:SRDX) were down 3.3% on Thursday after an insider sold shares in the company. The stock traded as low as $28.73 and last traded at $29.42, with a volume of 64,456 shares traded. The stock had previously closed at $30.42.
Specifically, VP Charles W. Olson sold 12,500 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $27.08, for a total value of $338,500.00. Following the completion of the sale, the vice president now directly owns 35,531 shares in the company, valued at approximately $962,179.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan E. Knight sold 1,548 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $28.64, for a total value of $44,334.72. The disclosure for this sale can be found here. 7.20% of the stock is owned by corporate insiders.
Several analysts recently issued reports on SRDX shares. Zacks Investment Research downgraded SurModics from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Sidoti downgraded SurModics from a “buy” rating to a “neutral” rating in a report on Thursday.
The stock has a market capitalization of $381.31 million, a P/E ratio of 43.69 and a beta of 0.97. The firm’s 50-day moving average price is $29.04 and its 200-day moving average price is $24.48.
SurModics (NASDAQ:SRDX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.25. The firm had revenue of $19.97 million for the quarter, compared to analyst estimates of $16.31 million. SurModics had a net margin of 14.45% and a return on equity of 17.11%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. Equities analysts predict that SurModics Inc. will post $1.04 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in SRDX. Calvert Investment Management Inc. raised its position in SurModics by 19.0% in the second quarter. Calvert Investment Management Inc. now owns 177,094 shares of the company’s stock worth $4,158,000 after buying an additional 28,307 shares during the period. Emerald Acquisition Ltd. purchased a new position in SurModics during the second quarter worth approximately $4,581,000. Wedge Capital Management L L P NC raised its position in SurModics by 300.5% in the second quarter. Wedge Capital Management L L P NC now owns 53,237 shares of the company’s stock worth $251,000 after buying an additional 39,943 shares during the period. Bank of Montreal Can purchased a new position in SurModics during the second quarter worth approximately $190,000. Finally, Capstone Asset Management Co. purchased a new position in SurModics during the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.
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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