November 28, 2016 - By Clifton Ray
Charles Olson, an insider and also Senior VP & GM – Med Dev of the big company Surmodics Inc made stocks unload. He made a sale of 500 shares of the firm with the insider sale transaction worth approx. $13,010 US Dollars – based on an average price of $26.0 for each one share. The regulatory filing shows that Charles Olson now possess about 0.22% of the Minnesota-based company’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding) The sold shares were unloaded on 28-11-2016 and the Form 4 that contains the legal information, filed with the Security and Exchange Commission can be found here.
Out of 2 analysts covering SurModics (NASDAQ:SRDX), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. SurModics has been the topic of 3 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Thursday, August 6, the company rating was maintained by Barrington Research. The firm has “Neutral” rating by Sidoti given on Friday, October 7. Barrington Research downgraded the stock to “Mkt Perform” rating in Monday, November 21 report.
Insitutional Activity: The institutional sentiment increased to 1.08 in Q2 2016. Its up 0.22, from 0.86 in 2016Q1. The ratio increased, as 6 funds sold all SurModics, Inc. shares owned while 43 reduced positions. 13 funds bought stakes while 29 increased positions. They now own 11.02 million shares or 4.16% less from 11.50 million shares in 2016Q1.
D E Shaw And Inc has 61,849 shares for 0% of their US portfolio. Loomis Sayles And L P holds 0.02% or 291,042 shares in its portfolio. Parametric Port Limited Liability Co holds 0% of its portfolio in SurModics, Inc. (NASDAQ:SRDX) for 44,173 shares. Aqr Capital Management Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Rhumbline Advisers reported 19,892 shares or 0% of all its holdings. Price T Rowe Associates Md has invested 0% of its portfolio in SurModics, Inc. (NASDAQ:SRDX). California State Teachers Retirement Systems holds 27,114 shares or 0% of its portfolio. Highbridge Mgmt Limited Liability has 14,381 shares for 0.01% of their US portfolio. Invesco accumulated 33,238 shares or 0% of the stock. Cadence Capital Mgmt Ltd Limited Liability Company accumulated 0.05% or 30,539 shares. The California-based Fuller & Thaler Asset Management Inc has invested 0.03% in SurModics, Inc. (NASDAQ:SRDX). State Board Of Administration Of Florida Retirement Systems holds 24,042 shares or 0% of its portfolio. American Century Companies last reported 18,861 shares in the company. Teachers Retirement System Of The State Of Kentucky has 4,898 shares for 0% of their US portfolio. New York State Common Retirement Fund owns 11,900 shares or 0% of their US portfolio.
Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 7 sales for $1.02 million net activity. $287,905 worth of SurModics, Inc. (NASDAQ:SRDX) was sold by OLSON CHARLES W on Tuesday, August 16. 5,000 shares were sold by Maharaj Gary R, worth $126,116 on Monday, November 7. $28,741 worth of SurModics, Inc. (NASDAQ:SRDX) shares were sold by Stich Joseph J. The insider KNIGHT SUSAN E sold $44,336. Phillips Bryan K sold 1,816 shares worth $42,561.
About 83,070 shares traded hands or 57.04% up from the average. SurModics, Inc. (NASDAQ:SRDX) has risen 24.39% since April 25, 2016 and is uptrending. It has outperformed by 18.37% the S&P500.
SurModics, Inc. is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The company has a market cap of $317.94 million. The Firm operates through two divisions: Medical Device and In Vitro Diagnostics. It has a 33 P/E ratio. The Firm is focused on to transform its medical device business from being a well-known provider of coating technologies to offering whole product solutions to medical device customers.
According to Zacks Investment Research, “SurModics, Inc. is a leading provider of surface modification technologies in the areas of biocompatibility, site specific drug delivery, biological cell encapsulation, and medical diagnostics. SurModics partners with the world’s foremost medical device, pharmaceutical and life science companies to bring innovation together for better patient outcomes. Recent collaborative efforts include the implementation of SurModics’ Bravo drug delivery polymer matrix as a key component of the first-to-market drug-eluting coronary stent. SurModics is also active in the ophthalmology market with a sustained drug delivery system that is currently in human trials for treatment of retinal disease. A significant portion of SurModics’ revenue is generated by royalties earned from the sale of our customers’ commercial products.”
Analysts await SurModics, Inc. (NASDAQ:SRDX) to report earnings on January, 26. They expect $0.09 EPS, down 76.32% or $0.29 from last year’s $0.38 per share. SRDX’s profit will be $1.15 million for 69.33 P/E if the $0.09 EPS becomes a reality. After $0.26 actual EPS reported by SurModics, Inc. for the previous quarter, Wall Street now forecasts -65.38% negative EPS growth.
Another recent and important SurModics, Inc. (NASDAQ:SRDX) news was published by Businesswire.com which published an article titled: “Surmodics to Attend Piper Jaffray Healthcare Conference” on November 22, 2016.
SurModics, Inc., incorporated on June 27, 1979, is a well-known provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The Firm operates through two divisions: Medical Device and In Vitro Diagnostics. The Firm is focused on to transform its medical device business from being a well-known provider of coating technologies to offering whole product solutions to medical device customers. As of September 30, 2015, the Company had over 150 licensed product classes (customer products utilizing SurModics technology) already in the market generating royalties and approximately 100 customer product classes incorporating its technology in various stages of pre-commercialization.
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By Clifton Ray