SurModics (NASDAQ:SRDX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Separately, Zacks Investment Research raised SurModics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $40.00.
Shares of SurModics (NASDAQ SRDX) traded down $1.55 during mid-day trading on Monday, reaching $28.25. The company had a trading volume of 20,192 shares, compared to its average volume of 23,325. The company has a market capitalization of $393.24, a PE ratio of 97.42 and a beta of 0.81. SurModics has a 52-week low of $21.90 and a 52-week high of $34.15.
SurModics (NASDAQ:SRDX) last issued its earnings results on Wednesday, November 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.19. The firm had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $16.98 million. SurModics had a return on equity of 6.18% and a net margin of 5.37%. analysts predict that SurModics will post -0.44 EPS for the current fiscal year.
In other SurModics news, VP Joseph J. Stich sold 1,000 shares of SurModics stock in a transaction on Monday, December 11th. The stock was sold at an average price of $30.18, for a total transaction of $30,180.00. Following the completion of the transaction, the vice president now directly owns 46,450 shares of the company’s stock, valued at $1,401,861. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH lifted its holdings in shares of SurModics by 2.1% during the third quarter. Allianz Asset Management GmbH now owns 107,190 shares of the company’s stock valued at $3,323,000 after acquiring an additional 2,248 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of SurModics by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 634,698 shares of the company’s stock valued at $19,676,000 after acquiring an additional 3,921 shares during the period. Trigran Investments Inc. lifted its holdings in shares of SurModics by 2.0% during the third quarter. Trigran Investments Inc. now owns 1,283,578 shares of the company’s stock valued at $39,791,000 after acquiring an additional 24,965 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of SurModics by 16.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 62,827 shares of the company’s stock valued at $1,948,000 after acquiring an additional 9,077 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of SurModics by 24.2% during the third quarter. Wells Fargo & Company MN now owns 23,401 shares of the company’s stock valued at $726,000 after acquiring an additional 4,564 shares during the period. 84.89% of the stock is owned by institutional investors.
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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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