Separately, Zacks Investment Research cut SurModics from a buy rating to a hold rating in a research report on Tuesday, July 5th.
SurModics (NASDAQ:SRDX) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.37 EPS for the quarter, beating the 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 last year, the firm posted $0.30 earnings per share. SurModics’s revenue was up 25.6% compared to the same quarter last year.
In other SurModics news, Director Susan E. Knight sold 1,548 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $28.64, for a total value of $44,334.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Charles W. Olson sold 12,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $27.08, for a total value of $338,500.00. Following the completion of the transaction, the vice president now directly owns 35,531 shares in the company, valued at approximately $962,179.48. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Calvert Investment Management Inc. increased its position in SurModics by 19.0% in the second quarter. Calvert Investment Management Inc. now owns 177,094 shares of the company’s stock worth $4,158,000 after buying an additional 28,307 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in SurModics during the second quarter worth $4,581,000. Wedge Capital Management L L P NC increased its position in SurModics by 300.5% in the second quarter. Wedge Capital Management L L P NC now owns 53,237 shares of the company’s stock worth $251,000 after buying an additional 39,943 shares in the last quarter. Bank of Montreal Can purchased a new position in SurModics during the second quarter worth $190,000. Finally, Capstone Asset Management Co. purchased a new position in SurModics during the second quarter worth $203,000. 86.42% of the stock is currently owned by institutional investors.
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.
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