SurModics, Inc. (NASDAQ:SRDX) hit a new 52-week high during trading on Friday . The stock traded as high as $70.25 and last traded at $70.12, with a volume of 4438 shares trading hands. The stock had previously closed at $67.50.

Several equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $74.00 target price on shares of SurModics in a report on Monday, August 6th. BidaskClub raised SurModics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 9th. Barrington Research upped their target price on SurModics to $73.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Lake Street Capital upped their target price on SurModics to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research raised SurModics from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, May 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. SurModics currently has an average rating of “Buy” and a consensus target price of $70.75.

The firm has a market cap of $909.24 million, a P/E ratio of 138.14, a price-to-earnings-growth ratio of 15.84 and a beta of 0.61.

SurModics (NASDAQ:SRDX) last announced its quarterly earnings data on Monday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.51. The firm had revenue of $22.23 million during the quarter, compared to the consensus estimate of $19.81 million. SurModics had a positive return on equity of 7.53% and a negative net margin of 2.94%. equities research analysts anticipate that SurModics, Inc. will post 0.43 EPS for the current fiscal year.

In related news, VP Joseph J. Stich sold 2,000 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $52.44, for a total value of $104,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose H. Bedoya sold 11,450 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $48.17, for a total value of $551,546.50. Following the completion of the sale, the director now directly owns 30,889 shares of the company’s stock, valued at $1,487,923.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,450 shares of company stock valued at $3,864,477. Company insiders own 7.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SRDX. SG Americas Securities LLC purchased a new stake in SurModics in the 1st quarter worth about $122,000. Piedmont Investment Advisors LLC purchased a new stake in SurModics in the 2nd quarter worth about $170,000. MetLife Investment Advisors LLC purchased a new stake in SurModics in the 4th quarter worth about $172,000. South State Corp acquired a new position in SurModics in the 2nd quarter worth about $243,000. Finally, Aperio Group LLC acquired a new position in SurModics in the 2nd quarter worth about $321,000. 84.36% of the stock is owned by hedge funds and other institutional investors.

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.

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