SurModics, Inc. (SRDX) CEO Sells $296,750.00 in Stock

SurModics, Inc. (NASDAQ:SRDX) CEO Gary R. Maharaj sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $59.35, for a total transaction of $296,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

SurModics stock opened at $59.90 on Friday. SurModics, Inc. has a 12-month low of $25.00 and a 12-month high of $82.35. The stock has a market cap of $761.54 million, a price-to-earnings ratio of 122.24, a PEG ratio of 71.05 and a beta of 0.89.

SurModics (NASDAQ:SRDX) last released its quarterly earnings results on Friday, November 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. SurModics had a negative net margin of 5.48% and a positive return on equity of 6.12%. The company had revenue of $23.04 million for the quarter, compared to analysts’ expectations of $22.54 million. Sell-side analysts predict that SurModics, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC acquired a new stake in shares of SurModics during the 3rd quarter worth about $101,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of SurModics in the third quarter worth approximately $109,000. Quantbot Technologies LP acquired a new stake in shares of SurModics in the third quarter worth approximately $112,000. Piedmont Investment Advisors LLC acquired a new stake in shares of SurModics in the second quarter worth approximately $170,000. Finally, Ibex Investors LLC acquired a new stake in shares of SurModics in the third quarter worth approximately $208,000. 84.82% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Zacks Investment Research restated a “hold” rating on shares of SurModics in a report on Friday, November 16th. BidaskClub cut shares of SurModics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $74.00 price target on shares of SurModics in a research note on Friday, November 9th. Finally, Barrington Research raised their price target on shares of SurModics to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.75.

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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.

Further Reading: Average Daily Trade Volume Explained

Insider Buying and Selling by Quarter for SurModics (NASDAQ:SRDX)

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