Shares of SurModics Inc. (NASDAQ:SRDX) have been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price target of $33.63 for the company and are forecasting that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also given SurModics an industry rank of 83 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut SurModics from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th.
SurModics (NASDAQ:SRDX) opened at 30.09 on Friday. The company has a 50 day moving average of $28.71 and a 200-day moving average of $23.75. The stock has a market capitalization of $392.52 million, a P/E ratio of 44.98 and a beta of 1.08. SurModics has a one year low of $17.45 and a one year high of $30.26.
SurModics (NASDAQ:SRDX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.25. SurModics had a return on equity of 17.11% and a net margin of 14.45%. The company had revenue of $19.97 million for the quarter, compared to analysts’ expectations of $16.31 million. During the same period in the previous year, the firm earned $0.30 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Equities research analysts predict that SurModics will post $1.04 earnings per share for the current fiscal year.
In other news, Director Susan E. Knight sold 1,548 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $28.64, for a total transaction of $44,334.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Charles W. Olson sold 9,936 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $28.98, for a total value of $287,945.28. Following the sale, the vice president now directly owns 33,098 shares in the company, valued at $959,180.04. The disclosure for this sale can be found here. 7.20% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of SRDX. Prudential Financial Inc. boosted its stake in shares of SurModics by 0.9% in the first quarter. Prudential Financial Inc. now owns 46,162 shares of the company’s stock valued at $850,000 after buying an additional 400 shares during the period. BlackRock Group LTD boosted its stake in shares of SurModics by 5.8% in the second quarter. BlackRock Group LTD now owns 16,841 shares of the company’s stock valued at $395,000 after buying an additional 930 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of SurModics by 0.5% in the first quarter. Disciplined Growth Investors Inc. MN now owns 181,352 shares of the company’s stock valued at $3,339,000 after buying an additional 975 shares during the period. Principal Financial Group Inc. boosted its stake in shares of SurModics by 2.9% in the second quarter. Principal Financial Group Inc. now owns 91,696 shares of the company’s stock valued at $2,153,000 after buying an additional 2,580 shares during the period. Finally, Gabelli Funds LLC boosted its stake in shares of SurModics by 2.4% in the second quarter. Gabelli Funds LLC now owns 128,626 shares of the company’s stock valued at $3,020,000 after buying an additional 3,000 shares during the period. 86.42% of the stock is currently owned by institutional investors and hedge funds.
SurModics Company Profile
SurModics, Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company is focused on to transform its medical device business from being a provider of coating technologies to offering whole product solutions to medical device customers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SurModics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SurModics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.