In a report released today, Michael Petusky from Barrington maintained a Buy rating on SurModics (NASDAQ: SRDX), with a price target of $77. The company’s shares closed yesterday at $74.05, close to its 52-week high of $74.10.
According to TipRanks.com, Petusky is a 5-star analyst with an average return of 17.2% and a 64.6% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SurModics with a $75.50 average price target.
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Based on SurModics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.68 million. In comparison, last year the company had a net profit of $720K.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Jose Bedoya, a Director at SRDX sold 11,450 shares for a total of $551,547.
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SurModics, Inc. engages in the provision of medical device and in vitro diagnostic technologies to the healthcare industry. It operates through the Medical Device and In Vitro Diagnostics segments.