Q4 2017 EPS Estimates for Surmodics, Inc. (NASDAQ:SRDX) Lowered by Barrington Research
Surmodics, Inc. (NASDAQ:SRDX) – Research analysts at Barrington Research lowered their Q4 2017 earnings per share (EPS) estimates for Surmodics in a research note issued to investors 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.
SRDX has been the topic of several other reports. Lake Street Capital assumed coverage on Surmodics in a report on Friday, July 14th. They set a “buy” rating and a $40.00 target price on the stock. BidaskClub cut Surmodics from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine cut Surmodics from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Aegis assumed coverage on Surmodics in a report on Tuesday, June 27th. They set a “buy” rating on the stock. Finally, Zacks Investment Research cut Surmodics from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Surmodics presently has an average rating of “Hold” and an average price target of $34.33.
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Shares of Surmodics (NASDAQ SRDX) opened at 26.15 on Monday. The stock has a 50 day moving average price of $26.84 and a 200 day moving average price of $24.74. The company has a market capitalization of $347.17 million, a price-to-earnings ratio of 36.94 and a beta of 0.88. Surmodics has a 1-year low of $21.90 and a 1-year high of $30.75.
Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. The business had revenue of $17.80 million during the quarter, compared to analyst estimates of $15.98 million. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS.
In other news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $25.31, for a total transaction of $25,310.00. Following the transaction, the vice president now directly owns 40,672 shares in the company, valued at approximately $1,029,408.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Bryan K. Phillips sold 1,226 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $24.85, for a total value of $30,466.10. Following the transaction, the senior vice president now owns 29,208 shares in the company, valued at $725,818.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,928 shares of company stock worth $263,719. Insiders own 6.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SRDX. BNP Paribas Arbitrage SA boosted its position in shares of Surmodics by 66.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $120,000 after buying an additional 1,700 shares in the last quarter. Trellus Management Company LLC bought a new position in shares of Surmodics during the first quarter valued at $216,000. Texas Permanent School Fund boosted 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 in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Surmodics by 17.0% in the first quarter. Wedge Capital Management L L P NC now owns 12,048 shares of the company’s stock valued at $290,000 after buying an additional 1,750 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Surmodics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock valued at $308,000 after buying an additional 1,930 shares in the last quarter. Institutional investors and hedge funds own 84.83% of the company’s stock.
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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