Insider Selling: Surmodics, Inc. (SRDX) VP Sells 1,000 Shares of Stock
Surmodics, Inc. (NASDAQ:SRDX) VP Joseph J. Stich sold 1,000 shares of Surmodics stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.28, for a total transaction of $27,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Surmodics, Inc. (NASDAQ:SRDX) traded up 0.74% during mid-day trading on Wednesday, reaching $27.25. 22,390 shares of the company’s stock traded hands. Surmodics, Inc. 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 $26.02 and its 200-day moving average price is $25.01. The stock has a market cap of $357.22 million, a price-to-earnings ratio of 59.37 and a beta of 0.85.
Surmodics (NASDAQ:SRDX) last posted its earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. The business had revenue of $17.80 million for the quarter, compared to analysts’ expectations of $15.98 million. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. Equities research analysts forecast that Surmodics, Inc. will post $0.31 earnings per share for the current year.
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Several analysts have commented on the stock. ValuEngine lowered shares of Surmodics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Lake Street Capital assumed coverage on shares of Surmodics in a research report on Friday, July 14th. They issued a “buy” rating and a $40.00 price objective on the stock. BidaskClub lowered shares of Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Aegis assumed coverage on shares of Surmodics in a research report on Tuesday, June 27th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.33.
A number of institutional investors and hedge funds have recently bought and sold shares of SRDX. BNP Paribas Arbitrage SA lifted its stake in Surmodics by 66.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $120,000 after acquiring an additional 1,700 shares during the period. Thrivent Financial For Lutherans bought a new position in Surmodics during the 2nd quarter valued at about $226,000. Nationwide Fund Advisors lifted its stake in Surmodics by 15.8% during the 2nd quarter. Nationwide Fund Advisors now owns 8,427 shares of the company’s stock valued at $237,000 after acquiring an additional 1,149 shares during the period. Texas Permanent School Fund lifted its stake in Surmodics by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 9,693 shares of the company’s stock valued at $273,000 after acquiring an additional 88 shares during the period. Finally, State of Tennessee Treasury Department lifted its stake in Surmodics by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock valued at $308,000 after acquiring an additional 1,930 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.
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.
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