SurModics (SRDX) Sets New 12-Month High at $79.55

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SurModics, Inc. (NASDAQ:SRDX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $79.55 and last traded at $78.75, with a volume of 163481 shares traded. The stock had previously closed at $76.00.

A number of equities analysts have recently commented on SRDX shares. Barrington Research boosted their price objective on SurModics to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 7th. Needham & Company LLC boosted their target price on SurModics from $46.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 16th. BidaskClub upgraded SurModics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 9th. Lake Street Capital boosted their target price on SurModics to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research cut SurModics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. SurModics presently has an average rating of “Buy” and a consensus price target of $71.75.

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 155.20, a P/E/G ratio of 18.31 and a beta of 0.72.

SurModics (NASDAQ:SRDX) last posted its earnings results on Monday, August 6th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.51. The firm had revenue of $22.23 million during the quarter, compared to analysts’ expectations of $19.81 million. SurModics had a positive return on equity of 7.53% and a negative net margin of 2.94%. sell-side analysts anticipate that SurModics, Inc. will post 0.43 earnings per share for the current year.

In related news, VP Gregg S. Sutton sold 14,824 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $74.14, for a total transaction of $1,099,051.36. The transaction 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 that occurred on Monday, July 2nd. The stock was sold at an average price of $54.48, for a total value of $272,400.00. Following the sale, the chief executive officer now owns 179,586 shares of the company’s stock, valued at approximately $9,783,845.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,824 shares of company stock valued at $2,793,201. 7.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SRDX. BlackRock Inc. lifted its stake in SurModics by 13.9% in the second quarter. BlackRock Inc. now owns 2,069,955 shares of the company’s stock valued at $114,261,000 after buying an additional 251,990 shares during the last quarter. Federated Investors Inc. PA purchased a new stake in SurModics in the second quarter valued at approximately $3,959,000. Trigran Investments Inc. lifted its stake in SurModics by 4.9% in the first quarter. Trigran Investments Inc. now owns 1,372,945 shares of the company’s stock valued at $52,240,000 after buying an additional 64,025 shares during the last quarter. Acadian Asset Management LLC lifted its stake in SurModics by 34.2% in the second quarter. Acadian Asset Management LLC now owns 154,135 shares of the company’s stock valued at $8,509,000 after buying an additional 39,277 shares during the last quarter. Finally, EAM Global Investors LLC purchased a new stake in SurModics in the first quarter valued at approximately $1,378,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

About SurModics (NASDAQ:SRDX)

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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