SurModics, Inc. (SRDX) Receives Average Recommendation of “Buy” from Brokerages

SurModics, Inc. (NASDAQ:SRDX) has received an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $80.33.

SRDX has been the topic of several research reports. Lake Street Capital upped their price objective on shares of SurModics to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price objective on shares of SurModics in a report on Monday, August 6th. BidaskClub downgraded shares of SurModics from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Zacks Investment Research reiterated a “hold” rating on shares of SurModics in a report on Friday, November 16th. Finally, Barrington Research upped their price objective on shares of SurModics to $73.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th.

Shares of NASDAQ:SRDX traded up $0.26 on Thursday, hitting $60.10. The company had a trading volume of 110 shares, compared to its average volume of 90,479. SurModics has a 1-year low of $25.00 and a 1-year high of $82.35. The company has a market cap of $808.97 million, a P/E ratio of 122.24, a P/E/G ratio of 75.74 and a beta of 0.90.

SurModics (NASDAQ:SRDX) last released its quarterly earnings data on Friday, November 9th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. SurModics had a negative net margin of 5.48% and a positive return on equity of 6.12%. The firm had revenue of $23.04 million for the quarter, compared to the consensus estimate of $22.54 million. On average, equities research analysts expect that SurModics will post 0.08 earnings per share for the current year.

In other news, VP Joseph J. Stich sold 2,000 shares of the business’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $63.77, for a total value of $127,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $62.21, for a total transaction of $311,050.00. Following the completion of the sale, the chief executive officer now directly owns 166,086 shares of the company’s stock, valued at approximately $10,332,210.06. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new stake in shares of SurModics in the third quarter valued at about $101,000. C M Bidwell & Associates Ltd. bought a new stake in shares of SurModics in the third quarter valued at about $109,000. Quantbot Technologies LP bought a new stake in shares of SurModics in the third quarter valued at about $112,000. Ibex Investors LLC bought a new stake in shares of SurModics in the third quarter valued at about $208,000. Finally, CAPROCK Group Inc. bought a new stake in shares of SurModics in the third quarter valued at about $210,000. 84.82% of the stock is owned by institutional investors.

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 Ireland. It operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment 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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