SurModics (SRDX) Rating Increased to Sell at BidaskClub

SurModics (NASDAQ:SRDX) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Thursday.

Separately, Zacks Investment Research lowered SurModics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $40.00.

Shares of SurModics (SRDX) traded up $0.60 during trading hours on Thursday, reaching $29.00. The company had a trading volume of 19,527 shares, compared to its average volume of 32,191. SurModics has a 12 month low of $21.90 and a 12 month high of $34.15. The firm has a market cap of $382.68, a price-to-earnings ratio of 56.86 and a beta of 0.85.

SurModics (NASDAQ:SRDX) last announced its earnings results on Wednesday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.19. SurModics had a return on equity of 6.18% and a net margin of 5.37%. The company had revenue of $20.06 million for the quarter, compared to analyst estimates of $16.98 million. research analysts expect that SurModics will post -0.44 EPS for the current year.

In other SurModics news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $30.18, for a total transaction of $30,180.00. Following the sale, the vice president now owns 46,450 shares in the company, valued at approximately $1,401,861. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.70% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in SurModics during the 3rd quarter valued at about $116,000. Macquarie Group Ltd. purchased a new stake in SurModics during the 3rd quarter valued at about $123,000. BNP Paribas Arbitrage SA grew 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 purchasing an additional 1,700 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in SurModics by 59.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 4,980 shares of the company’s stock valued at $154,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Condor Capital Management purchased a new stake in SurModics during the 3rd quarter valued at about $208,000. Institutional investors and hedge funds own 85.64% of the company’s stock.

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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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