SurModics, Inc. (NASDAQ:SRDX) CEO Gary R. Maharaj sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $72.35, for a total value of $361,750.00. Following the completion of the sale, the chief executive officer now owns 170,767 shares in the company, valued at $12,354,992.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
SurModics stock opened at $52.79 on Wednesday. The firm has a market capitalization of $703.37 million, a price-to-earnings ratio of 107.73, a price-to-earnings-growth ratio of 34.78 and a beta of 1.30. SurModics, Inc. has a 52 week low of $25.00 and a 52 week high of $82.35.
SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, January 30th. The company reported $0.12 earnings per share (EPS) for the quarter. SurModics had a positive return on equity of 6.37% and a negative net margin of 1.84%. The business had revenue of $22.24 million for the quarter, compared to analyst estimates of $18.90 million. Sell-side analysts expect that SurModics, Inc. will post 0.15 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in SurModics by 6.8% in the fourth quarter. Strs Ohio now owns 12,600 shares of the company’s stock valued at $595,000 after buying an additional 800 shares during the period. Arizona State Retirement System lifted its stake in SurModics by 6.5% in the fourth quarter. Arizona State Retirement System now owns 20,633 shares of the company’s stock valued at $975,000 after buying an additional 1,264 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in SurModics in the third quarter valued at about $101,000. Teachers Retirement System of The State of Kentucky lifted its stake in SurModics by 77.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 3,198 shares of the company’s stock valued at $239,000 after buying an additional 1,400 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new position in SurModics in the third quarter valued at about $109,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on SRDX. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price target on shares of SurModics in a research report on Friday, November 9th. BidaskClub lowered SurModics from a “hold” rating to a “sell” rating in a research note on Friday, December 21st. Finally, Zacks Investment Research reissued a “hold” rating on shares of SurModics in a research note on Friday, November 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $70.50.
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Surmodics, Inc, together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and 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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