Price Action Alert: Today SurModics, Inc. Stock Crashes

Price Action Alert: Today SurModics, Inc. Stock Crashes

The stock of SurModics, Inc. (NASDAQ:SRDX) is a huge mover today! About 121,660 shares traded hands or 162.67% up from the average. SurModics, Inc. (NASDAQ:SRDX) has risen 36.25% since April 14, 2016 and is uptrending. It has outperformed by 31.56% the S&P500.
The move comes after 9 months negative chart setup for the $327.34 million company. It was reported on Nov, 16 by Barchart.com. We have $22.23 PT which if reached, will make NASDAQ:SRDX worth $42.55M less.

SurModics, Inc. (NASDAQ:SRDX) Ratings Coverage

Out of 2 analysts covering SurModics (NASDAQ:SRDX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. SurModics has been the topic of 2 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, August 6 by Barrington Research. The rating was downgraded by Sidoti on Friday, October 7 to “Neutral”.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.18, from 1.04 in 2016Q1. The ratio dropped, 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.
Tudor Et Al last reported 0.01% of its portfolio in the stock. Glenmede Tru Na last reported 0% of its portfolio in the stock. Moreover, Highbridge Cap Management Limited Com has 0.01% invested in SurModics, Inc. (NASDAQ:SRDX) for 14,381 shares. Allianz Asset Mgmt Ag last reported 0% of its portfolio in the stock. Moreover, Disciplined Growth Incorporated Mn has 0.11% invested in SurModics, Inc. (NASDAQ:SRDX) for 179,277 shares. Moreover, Northern Tru Corp has 0% invested in SurModics, Inc. (NASDAQ:SRDX) for 233,614 shares. Blackrock Ltd Llc has 0% invested in the company for 79,489 shares. Geode Capital Mngmt Limited Liability holds 145,056 shares or 0% of its portfolio. Ny State Teachers Retirement System last reported 0% of its portfolio in the stock. Blackrock Institutional Na accumulated 0% or 413,658 shares. Picton Mahoney Asset Mngmt holds 0.01% of its portfolio in SurModics, Inc. (NASDAQ:SRDX) for 3,700 shares. Numeric Ltd Co accumulated 0.04% or 181,780 shares. Diam Company holds 0% or 5,926 shares in its portfolio. Murphy Pohlad Asset Mngmt last reported 1.27% of its portfolio in the stock. Savings Bank Of Mellon last reported 183,969 shares in the company.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 9 insider sales for $1.09 million net activity. KNIGHT SUSAN E also sold $44,336 worth of SurModics, Inc. (NASDAQ:SRDX) shares. OLSON CHARLES W sold $287,905 worth of SurModics, Inc. (NASDAQ:SRDX) on Tuesday, August 16. On Monday, October 3 the insider Maharaj Gary R sold $147,770. Phillips Bryan K had sold 1,816 shares worth $42,561. Shares for $28,741 were sold by Stich Joseph J. on Tuesday, September 6.

More recent SurModics, Inc. (NASDAQ:SRDX) news were published by: Streetinsider.com which released: “Form 8-K SURMODICS INC For: Nov 16” on November 16, 2016. Also Businesswire.com published the news titled: “Surmodics to Present at Canaccord Genuity Medical Technology and Diagnostics Forum” on October 31, 2016. Equitiesfocus.com‘s news article titled: “SurModics, Inc. (NASDAQ:SRDX) 200-Day MA At $25.95” with publication date: November 15, 2016 was also an interesting one.

SRDX Company Profile

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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