SurModics (NASDAQ:SRDX) received a $75.00 price objective from analysts at Lake Street Capital in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective would suggest a potential upside of 65.45% from the stock’s previous close.
SRDX has been the subject of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective (down from $74.00) on shares of SurModics in a research report on Thursday. Zacks Investment Research cut SurModics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine cut SurModics from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 25th. Finally, BidaskClub raised SurModics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. SurModics currently has a consensus rating of “Buy” and an average target price of $62.50.
SRDX traded up $1.64 on Thursday, hitting $45.33. 108,102 shares of the company were exchanged, compared to its average volume of 108,756. SurModics has a twelve month low of $39.06 and a twelve month high of $82.35. The stock has a market capitalization of $611.14 million, a price-to-earnings ratio of 92.51, a PEG ratio of 28.96 and a beta of 1.24.
In other SurModics news, VP Joseph J. Stich sold 1,900 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $45.00, for a total transaction of $85,500.00. Following the completion of the sale, the vice president now directly owns 52,637 shares of the company’s stock, valued at approximately $2,368,665. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary R. Maharaj sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.68, for a total value of $213,400.00. Following the sale, the chief executive officer now directly owns 157,205 shares of the company’s stock, valued at $6,709,509.40. The disclosure for this sale can be found here. Insiders sold a total of 16,569 shares of company stock valued at $775,863 over the last three months. Company insiders own 7.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Pearl River Capital LLC raised its stake in SurModics by 168.3% during the 1st quarter. Pearl River Capital LLC now owns 958 shares of the company’s stock valued at $42,000 after acquiring an additional 601 shares during the last quarter. LS Investment Advisors LLC raised its stake in SurModics by 53.3% during the 1st quarter. LS Investment Advisors LLC now owns 1,476 shares of the company’s stock valued at $64,000 after acquiring an additional 513 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in SurModics during the 4th quarter valued at approximately $99,000. BNP Paribas Arbitrage SA raised its stake in SurModics by 1,080.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,762 shares of the company’s stock valued at $120,000 after acquiring an additional 2,528 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in SurModics during the 4th quarter valued at approximately $182,000. 86.80% 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 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.
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