Surmodics (SRDX) Earns Media Impact Rating of 0.10
Media coverage about Surmodics (NASDAQ:SRDX) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Surmodics earned a media sentiment score of 0.10 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 43.5453792802147 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Shares of Surmodics (SRDX) traded up 0.79% during midday trading on Friday, hitting $31.85. The stock had a trading volume of 16,989 shares. The stock has a market cap of $420.64 million, a price-to-earnings ratio of 41.91 and a beta of 0.86. Surmodics has a 1-year low of $21.90 and a 1-year high of $32.80. The firm’s 50-day moving average price is $28.16 and its 200-day moving average price is $25.71.
Surmodics (NASDAQ:SRDX) last released its earnings results on Thursday, August 3rd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Surmodics had a return on equity of 7.28% and a net margin of 8.66%. The company had revenue of $17.80 million during the quarter, compared to analyst estimates of $15.98 million. During the same quarter in the previous year, the company posted $0.37 EPS. Surmodics’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts forecast that Surmodics will post $0.31 earnings per share for the current year.
SRDX has been the subject of several research reports. Lake Street Capital initiated coverage on Surmodics in a research report on Friday, July 14th. They issued a “buy” rating and a $40.00 target price for the company. BidaskClub downgraded Surmodics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Aegis initiated coverage on Surmodics in a research report on Tuesday, June 27th. They issued a “buy” rating for the company. Finally, ValuEngine upgraded Surmodics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $36.50.
In other news, VP Joseph J. Stich sold 1,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $27.28, for a total value of $27,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary R. Maharaj sold 5,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $25.75, for a total value of $128,750.00. Following the completion of the sale, the chief executive officer now directly owns 126,807 shares of the company’s stock, valued at approximately $3,265,280.25. The disclosure for this sale can be found here. In the last three months, insiders sold 6,801 shares of company stock valued at $178,338. 6.40% of the stock is currently owned by corporate insiders.
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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