TheStreet Lowers SurModics Inc. (SRDX) to Hold
SRDX has been the topic of several other research reports. Zacks Investment Research lowered SurModics from a buy rating to a hold rating in a report on Friday, October 21st. Barrington Research lowered SurModics from an outperform rating to a market perform rating in a report on Monday, November 21st. Finally, Sidoti lowered SurModics from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a report on Thursday, October 6th.
SurModics (NASDAQ:SRDX) opened at 23.95 on Monday. SurModics has a 12-month low of $17.45 and a 12-month high of $30.75. The firm has a market cap of $313.46 million, a PE ratio of 31.51 and a beta of 0.98. The company has a 50-day moving average price of $26.64 and a 200-day moving average price of $26.23.
SurModics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.17. The company had revenue of $18.20 million for the quarter, compared to analyst estimates of $16.09 million. SurModics had a return on equity of 15.98% and a net margin of 13.99%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities analysts predict that SurModics will post $1.04 earnings per share for the current year.
In related news, CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $25.22, for a total transaction of $126,100.00. Following the transaction, the chief executive officer now owns 130,207 shares of the company’s stock, valued at $3,283,820.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SRDX. First Quadrant L P CA raised its position in SurModics by 9.4% in the third quarter. First Quadrant L P CA now owns 4,374 shares of the company’s stock worth $132,000 after buying an additional 374 shares in the last quarter. Condor Capital Management bought a new position in SurModics during the third quarter worth about $202,000. Arizona State Retirement System bought a new position in SurModics during the third quarter worth about $204,000. Bank of Montreal Can bought a new position in SurModics during the second quarter worth about $190,000. Finally, Meristem LLP bought a new position in SurModics during the third quarter worth about $247,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
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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