Needham Thinks SurModics’ Stock is Going to Recover

In a report released today, Michael Matson from Needham reiterated a Buy rating on SurModics (SRDXResearch Report), with a price target of $46.00. The company’s shares closed last Wednesday at $40.15, close to its 52-week low of $36.24.

According to, Matson is a 4-star analyst with an average return of 5.0% and a 51.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.

SurModics has an analyst consensus of Moderate Buy, with a price target consensus of $58.00.

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The company has a one-year high of $62.27 and a one-year low of $36.24. Currently, SurModics has an average volume of 46.51K.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRDX in relation to earlier this year. Last month, Susan Knight, a Director at SRDX sold 4,366 shares for a total of $196,295.

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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. The Medical Device segment designs, develops, and manufactures interventional medical devices, surface modification coating technologies, as well as drug-delivery coating technologies. The In Vitro Diagnostics segment consists of component products and technologies for diagnostic test kits and biomedical research applications. The company was founded in June 1979 and is headquartered in Eden Prairie, MN.

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