Shares of SurModics, Inc. (NASDAQ:SRDX) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $80.33.

A number of equities analysts have recently weighed in on SRDX shares. BidaskClub raised shares of SurModics from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Barrington Research boosted their price objective on shares of SurModics to $77.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Zacks Investment Research reissued a “hold” rating on shares of SurModics in a research report on Friday, November 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $74.00 target price on shares of SurModics in a report on Friday, November 9th.

In related news, VP Joseph J. Stich sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $63.77, for a total value of $127,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $59.35, for a total transaction of $296,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock valued at $735,340. 7.70% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in SRDX. BlackRock Inc. grew its holdings in SurModics by 13.9% in the second quarter. BlackRock Inc. now owns 2,069,955 shares of the company’s stock valued at $114,261,000 after purchasing an additional 251,990 shares during the period. Janus Henderson Group PLC purchased a new stake in SurModics in the third quarter valued at approximately $13,437,000. AQR Capital Management LLC grew its holdings in SurModics by 1,027.1% in the third quarter. AQR Capital Management LLC now owns 155,695 shares of the company’s stock valued at $11,623,000 after purchasing an additional 141,881 shares during the period. Acadian Asset Management LLC grew its holdings in SurModics by 63.1% in the third quarter. Acadian Asset Management LLC now owns 251,326 shares of the company’s stock valued at $18,761,000 after purchasing an additional 97,191 shares during the period. Finally, Federated Investors Inc. PA purchased a new stake in SurModics in the second quarter valued at approximately $3,959,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Shares of NASDAQ:SRDX traded up $3.06 during trading on Thursday, reaching $59.90. The stock had a trading volume of 161,243 shares, compared to its average volume of 79,182. The firm has a market cap of $761.54 million, a PE ratio of 122.24, a P/E/G ratio of 71.05 and a beta of 0.89. SurModics has a fifty-two week low of $25.00 and a fifty-two week high of $82.35.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $23.04 million during the quarter, compared to analyst estimates of $22.54 million. SurModics had a negative net margin of 5.48% and a positive return on equity of 6.12%. Equities analysts expect that SurModics will post 0.08 earnings per share for the current year.

SurModics Company Profile

Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and Ireland. It operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment offers surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device for the coronary, peripheral, neuro-vascular, urology, and other markets.

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