SurModics, Inc. (NASDAQ:SRDX) CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $72.35, for a total value of $361,750.00. Following the completion of the sale, the chief executive officer now directly owns 170,767 shares of the company’s stock, valued at $12,354,992.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ:SRDX opened at $52.79 on Wednesday. The company has a market cap of $703.37 million, a P/E ratio of 107.73, a PEG ratio of 34.78 and a beta of 1.30. SurModics, Inc. has a 1-year low of $25.00 and a 1-year high of $82.35.
SurModics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, January 30th. The company reported $0.12 earnings per share for the quarter. The business had revenue of $22.24 million during the quarter, compared to analysts’ expectations of $18.90 million. SurModics had a positive return on equity of 6.37% and a negative net margin of 1.84%. Analysts predict that SurModics, Inc. will post 0.15 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in SurModics by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,342 shares of the company’s stock worth $1,743,000 after purchasing an additional 1,489 shares during the last quarter. Vanguard Group Inc increased its stake in SurModics by 7.1% during the 3rd quarter. Vanguard Group Inc now owns 808,645 shares of the company’s stock worth $60,366,000 after acquiring an additional 53,835 shares during the period. Federated Investors Inc. PA increased its stake in SurModics by 61.7% during the 3rd quarter. Federated Investors Inc. PA now owns 115,997 shares of the company’s stock worth $8,659,000 after acquiring an additional 44,275 shares during the period. Acadian Asset Management LLC increased its stake in SurModics by 63.1% during the 3rd quarter. Acadian Asset Management LLC now owns 251,326 shares of the company’s stock worth $18,761,000 after acquiring an additional 97,191 shares during the period. Finally, GSA Capital Partners LLP increased its stake in SurModics by 307.5% during the 3rd quarter. GSA Capital Partners LLP now owns 31,937 shares of the company’s stock worth $2,384,000 after acquiring an additional 24,100 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 price objective on shares of SurModics in a research report on Friday, November 9th. BidaskClub cut SurModics from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of SurModics in a research report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $70.50.
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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.
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