Surmodics (NASDAQ:SRDX) Share Price Passes Above Two Hundred Day Moving Average of $47.68

Shares of Surmodics, Inc. (NASDAQ:SRDX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $47.68 and traded as high as $55.27. Surmodics shares last traded at $54.50, with a volume of 31,867 shares traded.

A number of research firms have recently commented on SRDX. Barrington Research boosted their target price on shares of Surmodics from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. Needham & Company LLC restated a “buy” rating and set a $61.00 price target on shares of Surmodics in a research report on Friday, February 5th.

The stock has a market capitalization of $755.81 million, a price-to-earnings ratio of 681.25, a price-to-earnings-growth ratio of 12.89 and a beta of 1.00. The business’s 50-day moving average is $56.28 and its two-hundred day moving average is $47.68.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Wednesday, April 28th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $35.00 million for the quarter, compared to analyst estimates of $35.02 million. Surmodics had a net margin of 1.18% and a return on equity of 1.42%. As a group, equities analysts expect that Surmodics, Inc. will post 0.35 earnings per share for the current fiscal year.

In other Surmodics news, VP Charles W. Olson sold 648 shares of the business’s stock in a transaction dated Friday, April 16th. The shares were sold at an average price of $59.75, for a total value of $38,718.00. Following the transaction, the vice president now directly owns 42,092 shares in the company, valued at approximately $2,514,997. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose H. Bedoya sold 1,497 shares of the business’s stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $50.68, for a total transaction of $75,867.96. The disclosure for this sale can be found here. Insiders sold a total of 8,412 shares of company stock worth $474,762 over the last quarter. 7.10% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in shares of Surmodics by 252.9% in the 4th quarter. Citigroup Inc. now owns 3,469 shares of the company’s stock valued at $151,000 after acquiring an additional 2,486 shares during the period. Arizona State Retirement System purchased a new stake in shares of Surmodics in the 1st quarter valued at approximately $223,000. Aperio Group LLC purchased a new stake in shares of Surmodics in the 4th quarter valued at approximately $203,000. White Pine Capital LLC purchased a new stake in shares of Surmodics in the 1st quarter valued at approximately $276,000. Finally, Diversified Trust Co raised its stake in shares of Surmodics by 6.3% in the 1st quarter. Diversified Trust Co now owns 5,100 shares of the company’s stock valued at $286,000 after acquiring an additional 304 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Company Profile (NASDAQ:SRDX)

Surmodics, Inc, together with its subsidiaries, provides surface modification technologies for intravascular medical devices, and chemical components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. The company operates through two segments, Medical Device and In Vitro Diagnostics.

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