Surmodics, Inc. (NASDAQ:SRDX) – Investment analysts at Barrington Research cut their Q4 2017 earnings estimates for Surmodics in a research report issued on Friday. Barrington Research analyst M. Petusky now expects that the company will earn ($0.01) per share for the quarter, down from their prior forecast of $0.01. Barrington Research also issued estimates for Surmodics’ Q1 2018 earnings at $0.01 EPS.

Other research analysts have also issued reports about the stock. Lake Street Capital started coverage on shares of Surmodics in a research report on Friday, July 14th. They set a “buy” rating and a $40.00 price target for the company. BidaskClub lowered shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Aegis started coverage on shares of Surmodics in a research report on Tuesday, June 27th. They set a “buy” rating for the company. ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Surmodics currently has an average rating of “Hold” and an average price target of $34.33.

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Shares of Surmodics (SRDX) traded down 1.97% during midday trading on Monday, hitting $24.90. The company’s stock had a trading volume of 5,216 shares. The stock’s 50 day moving average is $26.93 and its 200-day moving average is $24.76. Surmodics has a 52-week low of $21.90 and a 52-week high of $30.75. The firm has a market cap of $330.57 million, a P/E ratio of 35.17 and a beta of 0.88.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.10. The firm had revenue of $17.80 million for the quarter, compared to the consensus estimate of $15.98 million. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund raised its position in shares of Surmodics by 0.9% in the second quarter. Texas Permanent School Fund now owns 9,693 shares of the company’s stock valued at $273,000 after buying an additional 88 shares during the period. Murphy Pohlad Asset Management LLC raised its stake in Surmodics by 0.5% in the second quarter. Murphy Pohlad Asset Management LLC now owns 64,500 shares of the company’s stock valued at $1,815,000 after buying an additional 350 shares during the last quarter. Legal & General Group Plc raised its stake in Surmodics by 2.3% in the first quarter. Legal & General Group Plc now owns 22,754 shares of the company’s stock valued at $548,000 after buying an additional 506 shares during the last quarter. Comerica Bank raised its stake in Surmodics by 5.1% in the first quarter. Comerica Bank now owns 14,586 shares of the company’s stock valued at $343,000 after buying an additional 712 shares during the last quarter. Finally, Cadence Capital Management LLC raised its stake in Surmodics by 4.4% in the first quarter. Cadence Capital Management LLC now owns 20,597 shares of the company’s stock valued at $495,000 after buying an additional 876 shares during the last quarter. Institutional investors own 84.83% of the company’s stock.

In related news, CEO Gary R. Maharaj sold 2,702 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $25.09, for a total value of $67,793.18. Following the completion of the transaction, the chief executive officer now directly owns 136,807 shares in the company, valued at $3,432,487.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bryan K. Phillips sold 1,226 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $24.85, for a total transaction of $30,466.10. Following the completion of the transaction, the senior vice president now owns 29,208 shares of the company’s stock, valued at $725,818.80. The disclosure for this sale can be found here. Insiders sold 9,928 shares of company stock valued at $263,719 over the last quarter. 6.40% of the stock is owned by company insiders.

Surmodics Company Profile

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.

Earnings History and Estimates for Surmodics (NASDAQ:SRDX)

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