SurModics (NASDAQ:SRDX) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday, May 2nd.
A number of other equities analysts also recently weighed in on SRDX. BidaskClub raised shares of SurModics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Lake Street Capital reissued a “buy” rating and set a $38.00 target price (up previously from $35.00) on shares of SurModics in a research note on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price on shares of SurModics in a research note on Tuesday, March 27th. Zacks Investment Research downgraded shares of SurModics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Finally, Sidoti raised shares of SurModics from a “neutral” rating to a “buy” rating in a research note on Thursday, March 1st. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. SurModics currently has an average rating of “Buy” and a consensus price target of $55.00.
Shares of SurModics opened at $48.05 on Wednesday, MarketBeat.com reports. SurModics has a fifty-two week low of $47.50 and a fifty-two week high of $48.95. The company has a market capitalization of $652.29 million, a price-to-earnings ratio of 111.82 and a beta of 0.52.
SurModics (NASDAQ:SRDX) last issued its earnings results on Wednesday, May 2nd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $19.06 million for the quarter, compared to analyst estimates of $17.92 million. SurModics had a net margin of 1.49% and a return on equity of 5.33%. equities research analysts expect that SurModics will post -0.02 EPS for the current fiscal year.
In other news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $33.53, for a total transaction of $33,530.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of SurModics during the first quarter worth about $122,000. MetLife Investment Advisors LLC bought a new stake in shares of SurModics during the fourth quarter worth about $172,000. Jefferies Group LLC bought a new stake in shares of SurModics during the fourth quarter worth about $238,000. Matarin Capital Management LLC bought a new stake in shares of SurModics during the first quarter worth about $363,000. Finally, Chicago Equity Partners LLC bought a new stake in shares of SurModics during the first quarter worth about $400,000. 84.26% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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