Surmodics, Inc. (SRDX) Receives Average Rating of “Hold” from Analysts
Shares of Surmodics, Inc. (NASDAQ:SRDX) have received a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $40.00.
Several research firms have recently issued reports on SRDX. Lake Street Capital began coverage on shares of Surmodics in a research report on Friday, July 14th. They set a “buy” rating and a $40.00 price objective for the company. ValuEngine raised shares of Surmodics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Aegis began coverage on shares of Surmodics in a research report on Tuesday, June 27th. They set a “buy” rating for the company. Finally, BidaskClub raised shares of Surmodics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd.
Shares of Surmodics (NASDAQ SRDX) opened at 31.00 on Friday. Surmodics has a one year low of $21.90 and a one year high of $32.80. The stock has a market cap of $406.38 million, a price-to-earnings ratio of 67.54 and a beta of 0.86. The stock’s 50 day moving average price is $29.84 and its 200 day moving average price is $26.26.
Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. The business had revenue of $17.80 million during 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 company’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Analysts forecast that Surmodics will post $0.31 earnings per share for the current year.
In related news, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $25.75, for a total value of $128,750.00. Following the completion of the sale, the chief executive officer now directly owns 126,807 shares of the company’s stock, valued at $3,265,280.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.28, for a total transaction of $27,280.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,801 shares of company stock valued at $178,338. Corporate insiders own 6.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its position in 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 acquiring an additional 1,700 shares during the last quarter. Thrivent Financial For Lutherans purchased a new stake in Surmodics in the second quarter valued at $226,000. Nationwide Fund Advisors lifted its position in Surmodics by 15.8% in the second 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 last quarter. Texas Permanent School Fund lifted its position in 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 acquiring an additional 88 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Surmodics by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,312 shares of the company’s stock valued at $318,000 after acquiring an additional 262 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.
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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