Surmodics, Inc. (NASDAQ:SRDX) CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $25.75, for a total value of $128,750.00. Following the transaction, the chief executive officer now directly owns 126,807 shares of the company’s stock, valued at approximately $3,265,280.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Surmodics, Inc. (NASDAQ SRDX) traded up 0.41% during midday trading on Friday, hitting $24.60. The stock had a trading volume of 45,948 shares. The firm has a market capitalization of $322.48 million, a PE ratio of 53.59 and a beta of 0.88. Surmodics, Inc. has a one year low of $21.90 and a one year high of $30.75. The firm’s 50-day moving average price is $26.93 and its 200-day moving average price is $24.78.
Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The business had revenue of $17.80 million during the quarter, compared to analysts’ expectations of $15.98 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, equities analysts predict that Surmodics, Inc. will post $0.27 EPS for the current year.
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Several large investors have recently made changes to their positions in SRDX. Cadence Capital Management LLC boosted its stake in shares of Surmodics by 4.4% in the first quarter. Cadence Capital Management LLC now owns 20,597 shares of the company’s stock worth $495,000 after buying an additional 876 shares during the period. Prudential Financial Inc. boosted its stake in shares of Surmodics by 2.6% in the first quarter. Prudential Financial Inc. now owns 49,692 shares of the company’s stock worth $1,195,000 after buying an additional 1,240 shares during the period. Nine Chapters Capital Management LLC bought a new stake in shares of Surmodics during the first quarter worth approximately $438,000. State of Tennessee Treasury Department boosted its stake in shares of Surmodics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 12,786 shares of the company’s stock worth $308,000 after buying an additional 1,930 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Surmodics by 4.4% in the first quarter. Ameriprise Financial Inc. now owns 73,719 shares of the company’s stock worth $1,773,000 after buying an additional 3,101 shares during the period. 84.83% of the stock is owned by institutional investors and hedge funds.
SRDX has been the subject of several research reports. BidaskClub cut Surmodics from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine cut Surmodics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Surmodics from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Aegis initiated coverage on Surmodics in a research note on Tuesday, June 27th. They set a “buy” rating for the company. Finally, Lake Street Capital initiated coverage on Surmodics in a research note on Friday, July 14th. They set a “buy” rating and a $40.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Surmodics has a consensus rating of “Hold” and an average price target of $34.33.
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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