SurModics Inc. (SRDX) Sees Strong Trading Volume
SurModics Inc. (NASDAQ:SRDX) saw unusually-strong trading volume on Monday . Approximately 53,616 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 51,648 shares.The stock last traded at $24.53 and had previously closed at $24.54.
A number of research analysts recently commented on SRDX shares. Zacks Investment Research raised SurModics from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Wednesday, May 4th. Barrington Research boosted their price target on SurModics from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 3rd. Finally, TheStreet raised SurModics from a “hold” rating to a “buy” rating in a report on Tuesday, April 26th.
The stock has a market cap of $321.58 million and a price-to-earnings ratio of 38.02. The stock has a 50 day moving average of $23.95 and a 200 day moving average of $20.92.
SurModics (NASDAQ:SRDX) last posted its earnings results on Monday, May 2nd. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. The business earned $16.70 million during the quarter. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts predict that SurModics Inc. will post $0.78 earnings per share for the current fiscal year.
In other news, SVP Bryan K. Phillips sold 1,816 shares of SurModics stock in a transaction on Tuesday, June 14th. The stock was 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 of the company’s stock, valued at $594,204. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in SurModics stock. Dimensional Fund Advisors LP boosted its position in shares of SurModics Inc. (NASDAQ:SRDX) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 515,134 shares of the company’s stock after buying an additional 1,970 shares during the period. Dimensional Fund Advisors LP owned about 3.96% of SurModics worth $10,442,000 at the end of the most recent reporting period.
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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