Surmodics, Inc. (NASDAQ:SRDX) gapped down prior to trading on Friday after Needham & Company LLC lowered their price target on the stock from $70.00 to $58.00. The stock had previously closed at $46.09, but opened at $39.38. Needham & Company LLC currently has a buy rating on the stock. Surmodics shares last traded at $40.68, with a volume of 6,311 shares traded.
In other news, SVP Joseph J. Stich sold 2,500 shares of the business’s stock in a transaction on Tuesday, January 4th. The shares were sold at an average price of $50.00, for a total transaction of $125,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Dantzker sold 3,475 shares of the business’s stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $47.01, for a total transaction of $163,359.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,551 shares of company stock valued at $533,704. Company insiders own 6.70% of the company’s stock.
Several hedge funds have recently modified their holdings of SRDX. Rice Hall James & Associates LLC boosted its holdings in Surmodics by 0.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 58,877 shares of the company’s stock worth $3,274,000 after buying an additional 246 shares during the period. Louisiana State Employees Retirement System lifted its stake in Surmodics by 6.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the company’s stock worth $373,000 after purchasing an additional 400 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Surmodics by 3.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,976 shares of the company’s stock worth $812,000 after purchasing an additional 493 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Surmodics by 5.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,119 shares of the company’s stock worth $562,000 after purchasing an additional 530 shares in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its stake in Surmodics by 3.4% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 18,500 shares of the company’s stock worth $1,004,000 after purchasing an additional 600 shares in the last quarter. 89.60% of the stock is owned by hedge funds and other institutional investors.
The firm’s 50-day moving average price is $45.61 and its 200-day moving average price is $51.51. The stock has a market capitalization of $562.21 million, a PE ratio of 135.60 and a beta of 1.03.
Surmodics (NASDAQ:SRDX) last announced its earnings results on Thursday, February 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.23. Surmodics had a net margin of 4.03% and a return on equity of 3.76%. During the same quarter in the previous year, the business posted $0.02 EPS. On average, equities research analysts expect that Surmodics, Inc. will post -1.27 EPS for the current year.
About Surmodics (NASDAQ:SRDX)
SurModics, Inc engages in the provision of surface modification technologies for intravascular medical devices and chemical components for in vitro diagnostic immunoassay tests and microarrays. It also develops and commercializes medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements.
