SurModics (SRDX) Downgraded by BidaskClub

BidaskClub downgraded shares of SurModics (NASDAQ:SRDX) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.

A number of other research analysts also recently weighed in on SRDX. ValuEngine raised shares of SurModics from a sell rating to a hold rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of SurModics from a hold rating to a sell rating in a research report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $40.00.

SurModics (NASDAQ:SRDX) opened at $28.00 on Friday. SurModics has a 52-week low of $21.90 and a 52-week high of $34.15. The firm has a market cap of $366.76, a P/E ratio of 96.56 and a beta of 0.85.

SurModics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 8th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.19. SurModics had a net margin of 5.37% and a return on equity of 6.18%. The firm had revenue of $20.06 million during the quarter, compared to the consensus estimate of $16.98 million. equities analysts anticipate that SurModics will post -0.44 EPS for the current year.

In other news, VP Joseph J. Stich sold 1,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were 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 approximately $1,401,861. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its holdings in SurModics by 2.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 107,190 shares of the company’s stock worth $3,323,000 after buying an additional 2,248 shares during the period. Dimensional Fund Advisors LP boosted its holdings in SurModics by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 634,698 shares of the company’s stock worth $19,676,000 after buying an additional 3,921 shares during the period. Trigran Investments Inc. boosted its holdings in SurModics by 2.0% in the 3rd quarter. Trigran Investments Inc. now owns 1,283,578 shares of the company’s stock worth $39,791,000 after buying an additional 24,965 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in SurModics by 16.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 62,827 shares of the company’s stock worth $1,948,000 after buying an additional 9,077 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in SurModics by 24.2% in the 3rd quarter. Wells Fargo & Company MN now owns 23,401 shares of the company’s stock worth $726,000 after buying an additional 4,564 shares during the period. 85.64% of the stock is owned by institutional investors.

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About SurModics

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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