Could Surmodics, Inc. (SRDX) Change Direction After Making 52-Week High?

May 17, 2018 - By Paula Hilliard

Surmodics, Inc. (NASDAQ:SRDX) Logo

Investors sentiment decreased to 0.69 in Q4 2017. Its down 0.25, from 0.94 in 2017Q3. It worsened, as 11 investors sold Surmodics, Inc. shares while 44 reduced holdings. 12 funds opened positions while 26 raised stakes. 11.07 million shares or 0.98% less from 11.18 million shares in 2017Q3 were reported.
Moreover, Thrivent Financial For Lutherans has 0% invested in Surmodics, Inc. (NASDAQ:SRDX). Legal And General Group Public Limited Company holds 0% in Surmodics, Inc. (NASDAQ:SRDX) or 23,854 shares. Citigroup reported 6,125 shares. Credit Suisse Ag has 22,628 shares for 0% of their portfolio. California State Teachers Retirement System holds 20,389 shares. Guggenheim Lc owns 33,653 shares for 0% of their portfolio. Bnp Paribas Arbitrage Sa owns 5,370 shares. State Teachers Retirement Systems reported 0% stake. Jefferies Group Limited Liability stated it has 8,503 shares. Gamco Invsts Et Al reported 100,448 shares or 0.02% of all its holdings. Vanguard Grp Inc has invested 0% in Surmodics, Inc. (NASDAQ:SRDX). 22,035 are owned by Arizona State Retirement. Spark Investment Mgmt Limited Liability owns 8,400 shares for 0.01% of their portfolio. Wells Fargo Mn invested in 0% or 28,209 shares. Voya Inv Mgmt Limited Company accumulated 8,653 shares.

Since December 11, 2017, it had 0 insider purchases, and 2 selling transactions for $63,711 activity.

The stock of Surmodics, Inc. (NASDAQ:SRDX) hit a new 52-week high and has $50.45 target or 5.00 % above today’s $48.05 share price. The 8 months bullish chart indicates low risk for the $637.05M company. The 1-year high was reported on May, 17 by Barchart.com. If the $50.45 price target is reached, the company will be worth $31.85M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 2.34% or $1.15 during the last trading session, reaching $48.05. About 69,949 shares traded or 30.00% up from the average. Surmodics, Inc. (NASDAQ:SRDX) has risen 61.37% since May 17, 2017 and is uptrending. It has outperformed by 49.82% the S&P500.

Analysts await Surmodics, Inc. (NASDAQ:SRDX) to report earnings on August, 2. They expect $-0.08 earnings per share, down 188.89 % or $0.17 from last year’s $0.09 per share. After $0.07 actual earnings per share reported by Surmodics, Inc. for the previous quarter, Wall Street now forecasts -214.29 % negative EPS growth.

Surmodics, Inc. (NASDAQ:SRDX) Ratings Coverage

Among 2 analysts covering Surmodics (NASDAQ:SRDX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Surmodics had 4 analyst reports since February 28, 2018 according to SRatingsIntel. Needham maintained the stock with “Buy” rating in Wednesday, May 2 report. Barrington Research upgraded the shares of SRDX in report on Wednesday, February 28 to “Outperform” rating. The rating was maintained by Needham with “Buy” on Wednesday, May 16.

More notable recent Surmodics, Inc. (NASDAQ:SRDX) news were published by: Businesswire.com which released: “Surmodics Announces Leadership Change and Appointment of Interim CFO” on May 16, 2018, also Bizjournals.com with their article: “SurModics CFO LaFrence leaves for pharma company” published on May 16, 2018, Benzinga.com published: “Benzinga’s Daily Biotech Pulse: Aytu Rallies On Earnings, Evolus Awaits FDA Verdict, BofA Conference Underway” on May 15, 2018. More interesting news about Surmodics, Inc. (NASDAQ:SRDX) were released by: Seekingalpha.com and their article: “FDA clears Surmodic’ low-profile catheter” published on April 23, 2018 as well as Globenewswire.com‘s news article titled: “Detailed Research: Economic Perspectives on Vitamin Shoppe, Surmodics, Spark Therapeutics, QUANTENNA …” with publication date: May 01, 2018.

Surmodics, Inc., together with its subsidiaries, provides medical devices and in vitro diagnostic technologies to the healthcare industry in the United States and Ireland. The company has market cap of $637.05 million. It operates through two divisions, Medical Device and In Vitro Diagnostics. It has a 24025 P/E ratio. 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.

Surmodics, Inc. (NASDAQ:SRDX) Institutional Positions Chart

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