SurModics (SRDX) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of SurModics (NASDAQ:SRDX) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Separately, Zacks Investment Research upgraded SurModics from a strong sell rating to a hold rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $35.50.

Shares of SurModics (NASDAQ SRDX) traded up $0.15 on Wednesday, reaching $27.40. The company had a trading volume of 15,700 shares, compared to its average volume of 23,457. The company has a market capitalization of $359.61, a P/E ratio of 64.88 and a beta of 0.81. SurModics has a 12 month low of $21.90 and a 12 month high of $34.15.

SurModics (NASDAQ:SRDX) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.15. The company had revenue of $17.01 million during the quarter, compared to the consensus estimate of $17.69 million. SurModics had a return on equity of 5.04% and a net margin of 0.10%. sell-side analysts predict that SurModics will post -0.05 EPS for the current fiscal year.

In related news, VP Joseph J. Stich sold 1,000 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 46,450 shares in the company, valued at $1,401,861. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in SurModics by 2.8% in the fourth quarter. BlackRock Inc. now owns 1,775,637 shares of the company’s stock worth $49,717,000 after buying an additional 48,184 shares during the last quarter. Trigran Investments Inc. lifted its position in shares of SurModics by 2.0% during the third quarter. Trigran Investments Inc. now owns 1,283,578 shares of the company’s stock worth $39,791,000 after purchasing an additional 24,965 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of SurModics by 3.3% during the second quarter. Vanguard Group Inc. now owns 717,091 shares of the company’s stock worth $20,187,000 after purchasing an additional 22,977 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SurModics by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 634,698 shares of the company’s stock worth $19,676,000 after purchasing an additional 3,921 shares during the last quarter. Finally, State Street Corp lifted its position in shares of SurModics by 0.4% during the second quarter. State Street Corp now owns 326,497 shares of the company’s stock worth $9,190,000 after purchasing an additional 1,401 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

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SurModics Company Profile

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.

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