SurModics Inc. (SRDX) Stock Rating Lowered by TheStreet
SurModics Inc. (NASDAQ:SRDX) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Monday.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of SurModics from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, October 20th. Sidoti cut shares of SurModics from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a report on Thursday, October 6th. Finally, Barrington Research cut shares of SurModics from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st.
Shares of SurModics (NASDAQ:SRDX) traded down 2.41% on Monday, hitting $24.30. The stock had a trading volume of 92,901 shares. The firm has a 50-day moving average of $26.64 and a 200 day moving average of $26.23. SurModics has a 1-year low of $17.45 and a 1-year high of $30.75. The company has a market capitalization of $318.04 million, a PE ratio of 31.97 and a beta of 0.98.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.17. The company had revenue of $18.20 million for the quarter, compared to analysts’ expectations of $16.09 million. SurModics had a net margin of 13.99% and a return on equity of 15.98%. SurModics’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities analysts anticipate that SurModics will post $1.04 earnings per share for the current fiscal year.
In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $29.55, for a total transaction of $147,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.20% of the company’s stock.
A number of large investors have recently modified their holdings of SRDX. Capstone Asset Management Co. raised its position in SurModics by 1.6% in the third quarter. Capstone Asset Management Co. now owns 8,780 shares of the company’s stock worth $264,000 after buying an additional 140 shares during the period. California State Teachers Retirement System raised its position in SurModics by 1.1% in the third quarter. California State Teachers Retirement System now owns 27,414 shares of the company’s stock worth $825,000 after buying an additional 300 shares during the period. First Quadrant L P CA raised its position in SurModics by 9.4% in the third quarter. First Quadrant L P CA now owns 4,374 shares of the company’s stock worth $132,000 after buying an additional 374 shares during the period. Prudential Financial Inc. raised its position in SurModics by 1.0% in the second quarter. Prudential Financial Inc. now owns 46,622 shares of the company’s stock worth $1,095,000 after buying an additional 460 shares during the period. Finally, Two Sigma Advisers LP raised its position in SurModics by 2.2% in the third quarter. Two Sigma Advisers LP now owns 41,073 shares of the company’s stock worth $1,236,000 after buying an additional 900 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.
SurModics Company Profile
SurModics, Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company is focused on to transform its medical device business from being a provider of coating technologies to offering whole product solutions to medical device customers.
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