SurModics, Inc. (NASDAQ:SRDX) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $37.67.
Several brokerages have recently weighed in on SRDX. BidaskClub raised SurModics from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Zacks Investment Research raised SurModics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Needham & Company LLC started coverage on SurModics in a research report on Tuesday. They issued a “buy” rating and a $42.00 target price for the company.
Shares of SurModics (NASDAQ SRDX) traded up $2.65 during midday trading on Tuesday, hitting $29.85. The stock had a trading volume of 158,949 shares, compared to its average volume of 22,340. SurModics has a 52 week low of $21.90 and a 52 week high of $34.15. The stock has a market capitalization of $393.90, a P/E ratio of 331.67 and a beta of 0.81.
SurModics (NASDAQ:SRDX) last issued its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.15. SurModics had a return on equity of 5.04% and a net margin of 0.10%. The company had revenue of $17.01 million during the quarter, compared to the consensus estimate of $17.69 million. equities research analysts anticipate that SurModics will post -0.05 earnings per share for the current year.
In related news, VP Joseph J. Stich sold 1,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $30.18, for a total value of $30,180.00. Following the completion of the transaction, the vice president now owns 46,450 shares of the company’s stock, valued at $1,401,861. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its holdings in SurModics by 10.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 141,473 shares of the company’s stock valued at $3,961,000 after purchasing an additional 13,908 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in SurModics in the fourth quarter valued at about $172,000. Guggenheim Capital LLC boosted its holdings in SurModics by 23.7% in the fourth quarter. Guggenheim Capital LLC now owns 33,653 shares of the company’s stock valued at $941,000 after purchasing an additional 6,445 shares during the last quarter. Deutsche Bank AG boosted its holdings in SurModics by 8.7% in the fourth quarter. Deutsche Bank AG now owns 49,119 shares of the company’s stock valued at $1,373,000 after purchasing an additional 3,929 shares during the last quarter. Finally, Jefferies Group LLC purchased a new position in SurModics in the fourth quarter valued at about $238,000. 84.36% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “SurModics, Inc. (SRDX) Receives Consensus Rating of “Hold” from Analysts” was first reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.thelincolnianonline.com/2018/03/14/surmodics-inc-srdx-receives-consensus-rating-of-hold-from-analysts.html.
Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.
Receive News & Ratings for SurModics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SurModics and related companies with MarketBeat.com's FREE daily email newsletter.