Surmodics, Inc. (SRDX) Receives $36.50 Average PT from Analysts
Shares of Surmodics, Inc. (NASDAQ:SRDX) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.50.
SRDX has been the subject of several analyst reports. Zacks Investment Research lowered shares of Surmodics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Aegis started coverage on shares of Surmodics in a report on Tuesday, June 27th. They set a “buy” rating for the company. Lake Street Capital started coverage on shares of Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 price objective for the company. BidaskClub lowered shares of Surmodics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.
Shares of Surmodics (SRDX) traded down 1.97% during trading on Friday, hitting $24.90. 3,699 shares of the stock traded hands. The stock has a market cap of $330.57 million, a PE ratio of 35.17 and a beta of 0.88. Surmodics has a 12 month low of $21.90 and a 12 month high of $30.75. The firm’s 50-day moving average price is $26.93 and its 200-day moving average price is $24.76.
Surmodics (NASDAQ:SRDX) last released its earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. The firm had revenue of $17.80 million during the quarter, compared to analyst estimates of $15.98 million. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. The business’s revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the business earned $0.37 EPS. Analysts anticipate that Surmodics will post $0.27 EPS for the current year.
In related news, VP Joseph J. Stich sold 1,000 shares of Surmodics stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $25.31, for a total transaction of $25,310.00. Following the completion of the sale, the vice president now owns 40,672 shares in the company, valued at approximately $1,029,408.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan K. Phillips sold 1,226 shares of Surmodics stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $24.85, for a total transaction of $30,466.10. Following the sale, the senior vice president now owns 29,208 shares of the company’s stock, valued at approximately $725,818.80. The disclosure for this sale can be found here. Insiders have sold a total of 9,928 shares of company stock valued at $263,719 in the last quarter. 6.40% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Surmodics by 10.8% in the fourth quarter. State Street Corp now owns 313,462 shares of the company’s stock worth $7,962,000 after buying an additional 30,557 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Surmodics by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 587,924 shares of the company’s stock worth $14,933,000 after buying an additional 37,480 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Surmodics by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 33,390 shares of the company’s stock worth $848,000 after buying an additional 2,574 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Surmodics by 15.2% in the first quarter. Rice Hall James & Associates LLC now owns 107,651 shares of the company’s stock worth $2,589,000 after buying an additional 14,205 shares during the last quarter. Finally, Trellus Management Company LLC bought a new stake in shares of Surmodics during the first quarter worth $216,000. Institutional investors own 84.83% of the company’s stock.
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Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.
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