Shares of SurModics, Inc. (NASDAQ:SRDX) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $80.33.

SRDX has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $69.00 target price on shares of SurModics in a report on Thursday, January 31st. Zacks Investment Research lowered SurModics from a “buy” rating to a “hold” rating in a report on Monday, January 14th. Finally, BidaskClub lowered SurModics from a “hold” rating to a “sell” rating in a report on Friday, December 21st.

Shares of SRDX stock traded down $0.45 during trading hours on Friday, reaching $52.11. The company had a trading volume of 308,874 shares, compared to its average volume of 92,866. SurModics has a 12 month low of $34.06 and a 12 month high of $82.35. The firm has a market capitalization of $702.55 million, a PE ratio of 106.35, a P/E/G ratio of 35.77 and a beta of 1.32.

SurModics (NASDAQ:SRDX) last posted its earnings results on Wednesday, January 30th. The company reported $0.12 earnings per share for the quarter. SurModics had a positive return on equity of 6.37% and a negative net margin of 1.84%. The company had revenue of $22.24 million for the quarter, compared to analyst estimates of $18.90 million. On average, research analysts expect that SurModics will post 0.15 EPS for the current year.

In related news, CEO Gary R. Maharaj sold 2,833 shares of SurModics stock in a transaction on Friday, February 1st. The stock was sold at an average price of $53.45, for a total transaction of $151,423.85. Following the sale, the chief executive officer now directly owns 170,767 shares in the company, valued at $9,127,496.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa Wipperman Heine sold 2,569 shares of SurModics stock in a transaction on Monday, February 25th. The stock was sold at an average price of $57.38, for a total value of $147,409.22. The disclosure for this sale can be found here. Insiders have sold 12,402 shares of company stock worth $640,433 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in SurModics by 1.7% during the fourth quarter. BlackRock Inc. now owns 2,108,214 shares of the company’s stock worth $99,634,000 after acquiring an additional 35,443 shares during the period. Renaissance Technologies LLC raised its stake in shares of SurModics by 6.8% in the third quarter. Renaissance Technologies LLC now owns 1,091,838 shares of the company’s stock valued at $81,506,000 after buying an additional 69,538 shares during the period. Vanguard Group Inc. raised its stake in shares of SurModics by 7.1% in the third quarter. Vanguard Group Inc. now owns 808,645 shares of the company’s stock valued at $60,366,000 after buying an additional 53,835 shares during the period. Vanguard Group Inc raised its stake in shares of SurModics by 7.1% in the third quarter. Vanguard Group Inc now owns 808,645 shares of the company’s stock valued at $60,366,000 after buying an additional 53,835 shares during the period. Finally, Trigran Investments Inc. raised its stake in shares of SurModics by 9.9% in the fourth quarter. Trigran Investments Inc. now owns 795,202 shares of the company’s stock valued at $37,581,000 after buying an additional 71,478 shares during the period. Institutional investors and hedge funds own 86.84% of the company’s stock.

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 internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and 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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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