SurModics, Inc. (NASDAQ:SRDX) Receives $68.00 Average Price Target from Brokerages

Share on StockTwits

Shares of SurModics, Inc. (NASDAQ:SRDX) have earned an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $68.00.

SRDX has been the subject of a number of recent research reports. ValuEngine downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Monday, March 25th. Barrington Research set a $64.00 target price on shares of SurModics and gave the stock a “buy” rating in a report on Thursday, May 2nd. Needham & Company LLC boosted their target price on shares of Alteryx to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Lake Street Capital set a $75.00 target price on shares of SurModics and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, BidaskClub downgraded shares of Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday.

In other SurModics news, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $40.95, for a total value of $204,750.00. Following the completion of the transaction, the chief executive officer now directly owns 152,205 shares in the company, valued at $6,232,794.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 15,000 shares of company stock valued at $631,450 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP increased its holdings in shares of SurModics by 13.1% during the fourth quarter. Two Sigma Investments LP now owns 82,727 shares of the company’s stock valued at $3,910,000 after acquiring an additional 9,596 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of SurModics by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 115,720 shares of the company’s stock valued at $5,469,000 after acquiring an additional 3,924 shares in the last quarter. Mackay Shields LLC increased its holdings in shares of SurModics by 92.2% during the fourth quarter. Mackay Shields LLC now owns 26,331 shares of the company’s stock valued at $1,244,000 after acquiring an additional 12,631 shares in the last quarter. United Services Automobile Association increased its holdings in shares of SurModics by 58.3% during the fourth quarter. United Services Automobile Association now owns 5,792 shares of the company’s stock valued at $274,000 after acquiring an additional 2,134 shares in the last quarter. Finally, Menta Capital LLC increased its holdings in shares of SurModics by 37.0% during the fourth quarter. Menta Capital LLC now owns 5,553 shares of the company’s stock valued at $262,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

NASDAQ:SRDX traded up $0.05 during mid-day trading on Friday, reaching $39.38. The company’s stock had a trading volume of 223 shares, compared to its average volume of 116,760. SurModics has a 1 year low of $38.06 and a 1 year high of $82.35. The business’s fifty day simple moving average is $41.26. The stock has a market capitalization of $542.64 million, a price-to-earnings ratio of 80.96, a PEG ratio of 13.41 and a beta of 1.22.

SurModics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. SurModics had a negative net margin of 2.07% and a positive return on equity of 6.35%. The company had revenue of $22.68 million during the quarter, compared to analyst estimates of $21.01 million. Research analysts predict that SurModics will post 0.3 earnings per share for the current year.

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 internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics. The Medical Device segment designs, develops, and manufactures interventional medical devices primarily for the peripheral vascular market; and 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: What is a recession?

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.