Surmodics, Inc. (NASDAQ:SRDX) VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.28, for a total transaction of $27,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Surmodics, Inc. (NASDAQ:SRDX) traded up 1.28% during midday trading on Thursday, hitting $27.60. 13,886 shares of the company’s stock were exchanged. Surmodics, Inc. has a 52 week low of $21.90 and a 52 week high of $30.75. The company has a 50-day moving average of $26.02 and a 200-day moving average of $25.01. The firm has a market cap of $361.81 million, a price-to-earnings ratio of 60.13 and a beta of 0.85.
Surmodics (NASDAQ:SRDX) last issued its earnings results on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. Surmodics had a net margin of 8.66% and a return on equity of 7.28%. The firm had revenue of $17.80 million during the quarter, compared to the consensus estimate of $15.98 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was down 11.0% on a year-over-year basis. Equities research analysts expect that Surmodics, Inc. will post $0.31 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake 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 purchasing an additional 1,700 shares in the last quarter. Thrivent Financial For Lutherans bought a new stake in Surmodics in the second quarter valued at approximately $226,000. Nationwide Fund Advisors increased its stake 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 purchasing an additional 1,149 shares in the last quarter. Texas Permanent School Fund increased its stake 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 purchasing an additional 88 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake 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 purchasing an additional 262 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on SRDX. Lake Street Capital began coverage on shares of Surmodics in a research note on Friday, July 14th. They issued 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 note on Friday, September 1st. Aegis began coverage on shares of Surmodics in a research note on Tuesday, June 27th. They issued a “buy” rating for the company. Finally, BidaskClub raised shares of Surmodics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $34.33.
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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