Shares of SurModics, Inc. (NASDAQ:SRDX) have been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $55.00.
A number of brokerages have recently issued reports on SRDX. Zacks Investment Research raised SurModics from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, May 7th. ValuEngine raised SurModics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. BidaskClub raised SurModics from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Lake Street Capital reaffirmed a “buy” rating and set a $38.00 target price (up from $35.00) on shares of SurModics in a research report on Wednesday, February 28th. Finally, Needham & Company LLC boosted their target price on SurModics from $46.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 16th.
Shares of SurModics traded down $0.65, hitting $51.80, during trading on Thursday, Marketbeat reports. The stock had a trading volume of 151,300 shares, compared to its average volume of 50,979. The firm has a market cap of $701.35 million, a price-to-earnings ratio of 101.57 and a beta of 0.65. SurModics has a fifty-two week low of $24.05 and a fifty-two week high of $54.19.
SurModics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. The business had revenue of $19.06 million during the quarter, compared to analyst estimates of $17.92 million. SurModics had a return on equity of 5.33% and a net margin of 1.49%. equities research analysts expect that SurModics will post -0.02 EPS for the current year.
In related news, VP Joseph J. Stich sold 1,000 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $33.53, for a total transaction of $33,530.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Timothy J. Arens sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $49.20, for a total value of $344,400.00. The disclosure for this sale can be found here. Insiders have sold 41,450 shares of company stock worth $2,005,157 over the last ninety days. 7.70% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of SRDX. Trigran Investments Inc. raised its position in SurModics by 4.9% during the first quarter. Trigran Investments Inc. now owns 1,372,945 shares of the company’s stock valued at $52,240,000 after buying an additional 64,025 shares during the period. BlackRock Inc. raised its position in SurModics by 2.8% during the fourth quarter. BlackRock Inc. now owns 1,775,637 shares of the company’s stock valued at $49,717,000 after buying an additional 48,184 shares during the period. EAM Global Investors LLC acquired a new position in SurModics during the first quarter valued at $1,378,000. Algert Global LLC acquired a new position in SurModics during the first quarter valued at $915,000. Finally, Arizona State Retirement System raised its position in SurModics by 224.5% during the fourth quarter. Arizona State Retirement System now owns 22,035 shares of the company’s stock valued at $617,000 after buying an additional 15,244 shares during the period. 83.69% of the stock is currently owned by hedge funds and other institutional investors.
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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