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Surmodics (NASDAQ:SRDX) Stock, Option Chain

Surmodics

Surmodics Inc is a provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic (IVD) immunoassay tests and microarrays. The company's reportable segments are; Medical Device and In Vitro Diagnostics. Maximum revenue for the company is derived from its Medical Device segment which is involved in the manufacturing and licensing of performance coatings, including surface modification coating technologies and drug-delivery coating technologies. This segment also manufactures vascular intervention medical devices, including drug-coated balloons, mechanical thrombectomy devices, and radial access balloon catheters and guide sheaths. Geographically, the company derives key revenue from its domestic market.

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SRDX

A downtrend has been apparent in SurModics (NASDAQ: SRDX) lately with too much selling pressure. The stock has declined 5.5% over the past four weeks.

Down -5.46% in 4 Weeks, Here&#39;s Why SurModics Looks Ripe for a Turnaround

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SurModics (NASDAQ: SRDX) has been on a downward spiral lately with significant selling pressure.

SurModics Loses -6.29% in 4 Weeks, Here&#39;s Why a Trend Reversal May be Around the Corner

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Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Surmodics Inc

CORRECTION: Surmodics reported Q4 financial results on Nov. 6

Needham analyst Mike Matson reiterates Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) with a Hold.

Reiteration

Needham Reiterates Hold on Surmodics

Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) reported quarterly losses of $(0.13) per share which beat the analyst consensus estimate of $(0.29) by 55.17 percent. This is a 124.53 percent decrease over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $33.23 million which beat the analyst consensus estimate of $30.40 million by 9.32 percent. This is a 18.80 percent increase over sales of $27.97 million the same period last year.

Surmodics Q4 2024 Adj EPS $(0.13) Beats $(0.29) Estimate, Sales $33.23M Beat $30.40M Estimate

Early subset analysis of 60 patients with acute, subacute, or chronic symptoms of limb ischemia demonstrated 96.8% procedural flow restoration, with 81.7% of subjects not receiving additional thromboemboli removal treatment post Pounce&#x2122; System use.
Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>), a leading provider of medical device and in vitro diagnostic technologies to the health care industry, today announced that early results of a subset of 60 real-world acute, subacute, and chronic limb ischemia patients from its PROWL registry study were presented by Dr. Dean Ferrera at the 36th Annual TCT Symposium in Washington, D.C.

Surmodics Announces Early Subset Analysis Of 60 Patients With Acute, Subacute, Or Chronic Symptoms Of Limb Ischemia Demonstrated 96.8% Procedural Flow Restoration, With 81.7% Of Subjects Not Receiving Additional Thromboemboli Removal Treatment Post Pounce System Use

Surmodics expects to initiate limited market release for the Pounce XL Thrombectomy System in the first half of 2025, with commercialization planned following the completion of the limited market release.

Surmodics Receives FDA 510(k) Clearance For Pounce XL Thrombectomy System

A downtrend has been apparent in SurModics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srdx#NASDAQ">SRDX</a>) lately with too much selling pressure. The stock has declined 5.5% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company&#39;s ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.
<h2>Guide to Identifying Oversold Stocks</h2>
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock&#39;s price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
<h2>Why SRDX Could Bounce Back Before Long</h2>
The RSI reading of 21.52 for SRDX is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for SRDX has increased 4.1%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, SRDX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock&#39;s potential turnaround in the near term.
<a href="https://www.zacks.com/stock/news/2332007/down-5-46-in-4-weeks-here-s-why-surmodics-srdx-looks-ripe-for-a-turnaround?cid=CS-BENZ-FT-tale_of_the_tape|rsi-2332007">To read this article on Zacks.com click here.</a>

Down -5.46% in 4 Weeks, Here's Why SurModics Looks Ripe for a Turnaround

SurModics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srdx#NASDAQ">SRDX</a>) has been on a downward spiral lately with significant selling pressure. After declining 6.3% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.
<h2>Guide to Identifying Oversold Stocks</h2>
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock&#39;s price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
<h2>Why SRDX Could Bounce Back Before Long</h2>
The RSI reading of 15.57 for SRDX is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
<img alt="3-month RSI Chart for SRDX" class="chart" src="https://staticx-tuner.zacks.com/images/articles/charts/yseop/544/SRDX_RCI14.jpeg" style="height:auto; width:100%" title="" />
This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering SRDX in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 4.9% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, SRDX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock&#39;s potential turnaround in the near term.
<a href="https://www.zacks.com/stock/news/2322514/surmodics-srdx-loses-6-29-in-4-weeks-here-s-why-a-trend-reversal-may-be-around-the-corner?cid=CS-BENZ-FT-tale_of_the_tape|rsi-2322514">To read this article on Zacks.com click here.</a>

SurModics Loses -6.29% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Surmodics Q3 2024 Adj. EPS $(0.27) Beats $(0.33) Estimate, Sales $30.341M Beat $30.006M Estimate

Effective June 1, 2024, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Surmodics Pounce&nbsp;and Pounce&nbsp;Venous Thrombectomy Systems.

Contracts

Surmodics Secures A Group Purchasing Agreement For Thrombectomy Products With Premier, Inc. ; No Terms Disclosed

Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) has been analyzed by 5 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $49.4, a high estimate of $71.00, and a low estimate of $43.00. Experiencing a 16.27% decline, the current average is now lower than the previous average price target of $59.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1717088457_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The perception of Surmodics by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brooks O'Neil</td>
<td>Lake Street</td>
<td>Announces</td>
<td>Hold</td>
<td>$43.00</td>
<td>-</td>
</tr>
<tr>
<td>James Sidoti</td>
<td>Sidoti &amp; Co.</td>
<td>Announces</td>
<td>Neutral</td>
<td>$43.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Petusky</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$71.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Mike Matson</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$43.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Mike Matson</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$47.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Surmodics. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Surmodics compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Surmodics's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Surmodics's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/SRDX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Surmodics analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Surmodics</h2>
Surmodics Inc is a provider of surface modification and in vitro diagnostic technologies to the healthcare industry. The company's mission is to improve the treatment and detection of disease by using its technology to provide solutions to difficult medical devices and diagnostic challenges. It has two reportable segments: Medical device unit; Manufacture of performance coatings, including surface modification coating technologies and the Vitro diagnostics unit; Manufacture of chemical and biological components used in in vitro diagnostic immunoassay and molecular tests within the diagnostic and biomedical research markets. Surmodics derives majority of its revenue from the Medical Device segment.
<h3>A Deep Dive into Surmodics's Financials</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Surmodics displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 17.5%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Health Care sector.
Net Margin: Surmodics's net margin is impressive, surpassing industry averages. With a net margin of 0.77%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Surmodics's ROE excels beyond industry benchmarks, reaching 0.2%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Surmodics's ROA excels beyond industry benchmarks, reaching 0.14%. This signifies efficient management of assets and strong financial health.
Debt Management: Surmodics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.27.
<h2>The Basics of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing Surmodics: Insights From 5 Financial Analysts

Barrington Research analyst Michael Petusky downgrades Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) from Outperform to Market Perform.

Downgrades

Barrington Research Downgrades Surmodics to Market Perform

Lake Street analyst Brooks O'Neil downgrades Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) from Buy to Hold and announces $43 price target.

Price Target

Lake Street Downgrades Surmodics to Hold, Announces $43 Price Target

Shares of Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/BMO/earnings">second-quarter financial results</a>.
Bank of Montreal posted quarterly adjusted earnings of C$2.59 per share, missing market estimates of C$2.77 per share. The company's quarterly sales came in at C$7.988 billion missing expectations of C$8.046 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Bank of Montreal shares declined 7.1% to $89.32 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>ReShape Lifesciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) shares jumped 82.8% to $0.3799 a day after it received the nod from the U.S. Patent And Trademark Office to issue a patent for its obesity treatment.</li>
<li>Innovative Eyewear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) shares jumped 56.1% to $0.64 after the company launched its Eddie Bauer Smart Eyewear collection.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) climbed 41% to $1.7900 after the company announced a $4.95 million private placement and appointed Paul Chang to co-CEO.</li>
<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) gained 40% to $2.10. The company yesterday announced that it received an order from the City of Lancaster Public Utilities Department for its SD7 Push-to-Talk handsets, VK7 Vehicle Kits and related accessories.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) climbed 29% to $6.88 after the company announced a partnership with Verizon for direct-to-cellular AST SpaceMobile service when needed for Verizon customers.</li>
<li>Cheche Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) shares gained 25.4% to $1.67. Cheche Group is expected to host a conference call to discuss first quarter 2024 results on Thursday, May 30.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) gained 25% to $0.2370.</li>
<li>Globavend Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVH#NASDAQ">GVH</a>) jumped 23.5% to $1.89 after the company announced an MOU to acquire Top Logistics.</li>
<li>Ikena Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKNA#NASDAQ">IKNA</a>) gained 22.5% to $1.63 after the company announced it will discontinue development of IK-930 and evaluate strategic options for both the Company and its development pipeline.</li>
<li>Ooma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) rose 22.3% to $9.66 after the company reported better-than-expected first-quarter financial results and issued strong guidance for the second quarter.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) jumped 22% to $0.80. Tantech recently received a notice of non-compliance from the Nasdaq.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rose 21.5% to $20.54 following better-than-expected first-quarter earnings.</li>
<li>SOPHiA GENETICS SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPH#NASDAQ">SOPH</a>) gained 21.1% to $5.96.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) climbed 21% to $0.2290.</li>
<li>Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) gained 20.3% to $42.23 after the company announced it will be acquired by GTCR for $43 per share in cash for a total equity valuation of roughly $627 million.</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) gained 15.9% to $176.57 following better-than-expected first-quarter financial results.</li>
<li>DICK&#8217;S Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) rose 15.8% to $225.87 as the company reported better-than-expected first-quarter FY24 earnings and raised the outlook.</li>
<li>Semler Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) rose 14.8% to $33.28. The company recently announced that its board of directors adopted bitcoin as its primary treasury reserve asset.</li>
<li>Scorpius Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCPX#NYSE">SCPX</a>) shares gained 14.2% to $0.1279 after gaining 6% on Tuesday.</li>
<li>Banzai International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) gained 13.5% to $0.1989. Banzai, last week, announced the pricing of a $2.5 million public offering.</li>
<li>Neonode Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEON#NASDAQ">NEON</a>) jumped 12.9% to $3.2746.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GYRE#NASDAQ">GYRE</a>) jumped 12.3% to $11.40. Gyre Therapeutics announced expected addition to the Russell 2000&#xAE; and Russell 3000&#xAE; Indexes.</li>
<li>Immunovant, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMVT#NASDAQ">IMVT</a>) rose 11.3% to $31.66.</li>
<li>Ascent Solar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTI#NASDAQ">ASTI</a>) gained 11.2% to $0.1660 following a 3% decline on Tuesday.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) rose 9.1% to $27.30 as the company reported its first-quarter financial results.</li>
<li>Titan Machinery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TITN#NASDAQ">TITN</a>) gained 8.2% to $19.18.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Faraday Future Intelligent Electric Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) fell 38.8% to $0.7232. Faraday Future's annual report for fiscal year 2023 showed a revenue of $0.8 million, significantly below analyst estimates of $2.59 million. While the net loss narrowed from $602 million in 2022 to $432 million in 2023, it still paints a concerning financial picture.</li>
<li>AERWINS Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AWIN#NASDAQ">AWIN</a>) shares fell 37% to $5.74. AERWINS Technologies shares jumped 143% on Tuesday after the company reported a year-over-year increase in first-quarter EPS results.</li>
<li>SOBR Safe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) shares fell 32% to $0.2889 after jumping 84% on Monday.</li>
<li>Cue Health Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) shares dipped 29.1% to $0.0643 after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.</li>
<li>Sharps Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) shares declined 26.4% to $0.3810 after surging 141% on Tuesday. In an exchange filing, the company said it has entered into a series of agreements with Nephron SC and Nephron Sterile Compounding Centers.</li>
<li>Fangdd Network Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUO#NASDAQ">DUO</a>) fell 23.8% to $0.8073.</li>
<li>Genetic Technologies Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GENE#NASDAQ">GENE</a>) declined 18.4% to $1.7301. GTG launched revolutionary geneType test covering 100% risk of breast and ovarian cancer.</li>
<li>CN Energy Group. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNEY#NASDAQ">CNEY</a>) dipped 18% to $0.51.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) fell 17.6% to $1.72. Predictive Oncology shares surged 31% on Tuesday after the company announced results from its ovarian caner study with UPMC Magee-Womens Hospital.</li>
<li>Maravai LifeSciences Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVI#NASDAQ">MRVI</a>) dropped 15.3% to $9.15.</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) shares declined 15.3% to $11.38 after the company announced the departure of its executive vice president and lowered guidance for the second quarter.</li>
<li>Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) fell 15% to $39.30 after Citigroup downgraded the stock from Buy to Sell and lowered its price target from $57 to $37.</li>
<li>Crown ElectroKinetics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRKN#NASDAQ">CRKN</a>) dipped 15% to $0.0909.</li>
<li>Onfolio Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) shares fell 14.3% to $1.13 in pre-market trading after jumping around 36% on Tuesday. Onfolio Holdings, last week, posted a quarterly loss of 14 cents per share.</li>
<li>Veru Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERU#NASDAQ">VERU</a>) fell 13.1% to $0.9644.</li>
<li>Telephone and Data Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDS#NYSE">TDS</a>) fell 9.3% to $17.31. JP Morgan analyst Sebastiano Petti maintained Telephone and Data with an Overweight and lowered the price target from $36 to $34.</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) fell 6.4% to $23.81.</li>
<li>Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) fell 5.5% to $66.28 following quarterly earnings.</li>
<li>CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) shares declined 4.2% to $78.92 following first-quarter results.</li>
</ul>
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Why Bank of Montreal Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Sidoti &amp; Co. analyst James Sidoti downgrades Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) from Buy to Neutral and announces $43 price target.

Sidoti & Co. Downgrades Surmodics to Neutral, Announces $43 Price Target

Private equity firm GTCR agreed to acquire medical device coating company Surmodics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) for <a href="https://www.benzinga.com/pressreleases/24/05/b39058847/surmodics-enters-into-definitive-agreement-to-be-acquired-by-gtcr-for-43-00-per-share-in-cash-repr" target="_blank" rel="noreferrer noopener">approximately $627 million</a>, or $43 per share.
The per-share acquisition price represents a 41.1% premium to Surmodics&#8217; 30-trading day volume-weighted average closing price through May 28.
Surmodics&#8217; board unanimously approved the cash deal. It also recommended that stockholders vote in favor of the transaction.
&#8220;We are pleased to announce this transaction, which enables Surmodics shareholders to realize immediate value creation with a substantial premium, reflecting the significant progress and important achievements made by our employees,&#8221; said Surmodics CEO Gary Maharaj said.
GTCR managing director Sean Cunningham praised Surmodics as &#8220;well-positioned for attractive, long-term growth and value creation.&#8221; 
The transaction is expected to close in the second half of 2024.
Upon completion of the transaction, Surmodics will be a privately held company, and its common stock will no longer be listed on The Nasdaq Stock Exchange.
Price Action: SRDX shares are up 20.3% at $42.24 at last check Wednesday.
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Health Care

Why Is Medical Coating Specialist Surmodics Trading Higher On Wednesday?

U.S. stocks were lower, with the Dow Jones index falling more than 300 points on Wednesday.
Shares of HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) rose sharply during Wednesday's session following a <a href="https://www.benzinga.com/quote/HEI/earnings">second-quarter earnings beat.</a>
Heico posted quarterly GAAP earnings of 88 cents per share, beating market estimates of 81 cents per share. The company's quarterly sales came in at $955.395 million versus expectations of $951.206 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
HEICO shares gained 4.6% to $221.76 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares gained 29% to $6.88 after the company announced a partnership with Verizon for direct-to-cellular AST SpaceMobile service when needed for Verizon customers.</li>
<li>Ooma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) gained 22.3% to $9.66 after the company reported better-than-expected first-quarter financial results and issued strong guidance for the second quarter.</li>
<li>SOPHiA GENETICS SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPH#NASDAQ">SOPH</a>) gained 21.1% to $5.96.</li>
<li>Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) climbed 20.3% to $42.23 after the company announced it will be acquired by GTCR for $43 per share in cash for a total equity valuation of roughly $627 million.</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) shares rose 15.9% to $176.57 following better-than-expected first-quarter financial results.</li>
<li>DICK&#8217;S Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) gained 15.8% to $225.87 as the company reported better-than-expected first-quarter FY24 earnings and raised the outlook.</li>
<li>Semler Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) surged 14.8% to $33.28. The company recenyly announced that its board of directors adopted bitcoin as its primary treasury reserve asset.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GYRE#NASDAQ">GYRE</a>) jumped 12.3% to $11.40. Gyre Therapeutics announced expected addition to the Russell 2000&#xAE; and Russell 3000&#xAE; Indexes.</li>
<li>Immunovant, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMVT#NASDAQ">IMVT</a>) gained 11.3% to $31.66.</li>
<li>Hello Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOMO#NASDAQ">MOMO</a>) jumped 9.8% to $5.32.</li>
<li>Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) jumped 9.6% to $29.00 after ConocoPhillips announced it will acquire the company.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) jumped 9.1% to $27.30 as the company reported its first-quarter financial results.</li>
<li>N-able, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NABL#NASDAQ">NABL</a>) gained 9% to $13.74 following a report suggesting the company is running a sale process amid takeover interest.</li>
<li>Titan Machinery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TITN#NASDAQ">TITN</a>) rose 8.2% to $19.18.</li>
<li>Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) gained 8% to $21.53.</li>
<li>JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>) jumped 4.9% to $29.78.</li>
</ul>
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MOMO

NABL

Heico Posts Upbeat Earnings, Joins Surmodics, Abercrombie & Fitch And Other Big Stocks Moving Higher On Wednesday

Needham analyst Mike Matson downgrades Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) from Buy to Hold.

Needham Downgrades Surmodics to Hold

WIIM

Surmodics shares are trading higher after the company announced it will be acquired by GTCR for $43 per share in cash for a total equity valuation of roughly $627 million.

<h3>Gainers</h3>
<ul>
<li>Reshape Lifesciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) shares increased by 82.9% to $0.38 during Wednesday's pre-market session. The market value of their outstanding shares is at $8.9 million. </li>
<li>Scorpius Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SCPX#AMEX">SCPX</a>) shares moved upwards by 39.58% to $0.16. The market value of their outstanding shares is at $10.2 million. The company's, Q1 earnings came out yesterday. </li>
<li>Genetic Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GENE#NASDAQ">GENE</a>) stock rose 34.88% to $2.9. The company's market cap stands at $9.3 million. </li>
<li>Surmodics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) stock increased by 17.92% to $41.39. The market value of their outstanding shares is at $590.2 million. </li>
<li>Ikena Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKNA#NASDAQ">IKNA</a>) stock increased by 17.33% to $1.56. The market value of their outstanding shares is at $75.3 million. </li>
<li>Kineta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KA#NASDAQ">KA</a>) stock increased by 17.27% to $0.55. The market value of their outstanding shares is at $6.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Cue Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) shares decreased by 40.6% to $0.05 during Wednesday's pre-market session. The market value of their outstanding shares is at $8.5 million. </li>
<li>Sharps Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) stock declined by 36.44% to $0.33. The market value of their outstanding shares is at $5.1 million. </li>
<li>Biohaven (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NYSE">BHVN</a>) shares decreased by 26.2% to $28.0. The market value of their outstanding shares is at $2.4 billion. </li>
<li>Exicure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) stock decreased by 21.99% to $0.28. The market value of their outstanding shares is at $2.4 million. </li>
<li>Innovative Eyewear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) shares decreased by 17.08% to $0.34. The company's market cap stands at $5.9 million. </li>
<li>OneMedNet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONMD#NASDAQ">ONMD</a>) stock declined by 12.94% to $1.75. The company's market cap stands at $41.7 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BHVN

ONMD

XCUR

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Press Releases

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates HCP, SRDX, CALB, FFNW on Behalf of Shareholders

STOCKHOLDER ALERT: The M&A Class Action Firm Investigates Merger of Surmodics, Inc. - SRDX

Legal

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ALIM, SRDX, ATRI on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ATRI, SRDX, AGS, VAPO on Behalf of Shareholders

SURMODICS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Surmodics, Inc. - SRDX

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SRCL, IBTX, AGS, SRDX on Behalf of Shareholders

Surmodics Reports Third Quarter of Fiscal Year 2024 Financial Results

Surmodics Receives FDA 510(k) Clearance for Pounce™ XL Thrombectomy System, Expanding the Pounce Thrombectomy Platform to Larger Peripheral Arteries up to 10 mm in Diameter

Surmodics Announces Early Results from PROWL Registry Study of Real-World Limb Ischemia Patients Treated with Pounce™ Thrombectomy System

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