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SRDX Surmodics

Surmodics is the global leader in surface modification technologies for intravascular medical devices and a leading provider of chemical components for in vitro diagnostic (IVD) immunoassay tests and microarrays. Surmodics is pursuing highly differentiated medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements. This key growth strategy leverages the combination of the Company's expertise in proprietary surface technologies, along with enhanced device design, development, and manufacturing capabilities. The Company mission remains to improve the detection and treatment of disease. Surmodics is headquartered in Eden Prairie, Minnesota. For more information, visit www.surmodics.com. The content of Surmodics' website is not part of this press release or part of any filings that the company makes with the SEC.

Company profile

Ticker
SRDX
Exchange
CEO
Gary Maharaj
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
411356149

SRDX stock data

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Calendar

28 Apr 21
29 Jul 21
30 Sep 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
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Cost of revenue
Operating income
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Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
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Financial data from Surmodics earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Jul 21 Manders John D. Common Stock Payment of exercise Dispose F No No 53.46 31 1.66K 3,108
30 Jun 21 Dantzker David Common Stock Grant Aquire A No No 54.25 345 18.72K 30,484
30 Jun 21 Kalich Ronald B SR Common Stock Grant Aquire A No No 54.25 329 17.85K 22,251
20 May 21 Stich Joseph J. Common Stock Gift Dispose G No No 0 1,000 0 44,776
20 May 21 Stich Joseph J. Common Stock Sell Dispose S No Yes 53.8022 2,500 134.51K 45,776
13 May 21 Arens Timothy J. Common Stock Payment of exercise Dispose F No No 53.24 134 7.13K 57,498

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

98.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 137 140 -2.1%
Opened positions 9 14 -35.7%
Closed positions 12 12
Increased positions 49 42 +16.7%
Reduced positions 50 53 -5.7%
13F shares
Current Prev Q Change
Total value 902.57M 1.97B -54.1%
Total shares 13.64M 13.55M +0.7%
Total puts 37.9K 8.4K +351.2%
Total calls 0 0
Total put/call ratio Infinity Infinity NaN%
Largest owners
Shares Value Change
BLK Blackrock 2.29M $128.68M +3.5%
Trigran Investments 1.76M $98.44M -1.5%
Vanguard 923.04K $51.76M -0.0%
Renaissance Technologies 804.04K $45.08M -9.2%
Wellington Management 708.09K $39.7M -1.2%
WELLINGTON TRUST Co N A 700.17K $30.47M 0.0%
Trigran Investments 639.63K $27.84M 0.0%
Dimensional Fund Advisors 469.53K $26.33M -4.6%
STT State Street 466.68K $26.17M +0.3%
JHG Janus Henderson 373.27K $20.93M -15.8%
Largest transactions
Shares Bought/sold Change
Disciplined Growth Investors 326.41K +184.12K +129.4%
Renaissance Technologies 804.04K -81.8K -9.2%
BLK Blackrock 2.29M +78.23K +3.5%
JHG Janus Henderson 373.27K -69.83K -15.8%
Segall Bryant & Hamill 65.13K +65.13K NEW
Soleus Capital Management 154.28K +61.3K +65.9%
Rice Hall James & Associates 60.03K +41.89K +230.8%
Millennium Management 50.44K +35.98K +248.7%
Fuller & Thaler Asset Management 0 -32.32K EXIT
DB Deutsche Bank AG - Registered Shares 9.36K -30.62K -76.6%

Financial report summary

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Risks
  • The COVID-19 pandemic has had an adverse effect on our business and results of operations and is expected to continue to have further adverse effects, which could be material, on our business, results of operations, financial condition, liquidity, and capital investments.
  • The long-term success of our business may suffer if we are unable to expand our licensing base.
  • Our success depends on our ability to effectively develop and market our products against those of our competitors.
  • We may not be successful in implementing our whole-product solutions strategy and related important strategic initiatives.
  • Increases in operating expenses related to the development and commercialization of new technologies and products may adversely affect our operating results and may not be effective.
  • Our failure to expand our management systems and controls to support anticipated growth or integrate acquisitions could seriously harm our operating results and business.
  • Goodwill or other assets on our balance sheet may become impaired, which could have a material adverse effect on our operating results.
  • We recognize revenue in accordance with complex accounting standards, and changes in circumstances or interpretations may lead to accounting adjustments and failure to implement these standards might impact the effectiveness of our internal control over financial reporting or impact the reliability of our financial reporting.
  • A portion of our IVD business relies on distribution agreements and relationships with various third parties, and any adverse change in those relationships could result in a loss of revenue and harm that business.
  • We rely on our customers to accurately report and make payments under our agreements with them.
  • We currently have limited or no redundancy in our manufacturing facilities for certain products, and we may lose revenue and be unable to maintain our customer relationships if we lose our production capacity.
  • Our revenue will be harmed if we cannot purchase sufficient components that we use in our manufacture of reagents.
  • We depend upon key personnel and may not be able to attract qualified personnel in the future.
  • Security breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • We may become involved in expensive and unpredictable patent litigation or other intellectual property proceedings which could result in liability for damages, or impair our development and commercialization efforts.
  • If we are unable to keep our trade secrets confidential, our technology and proprietary information may be used by others to compete against us.
  • If we are unable to convince our customers to adopt our advanced generation of hydrophilic coating technologies, our royalty revenue may decrease.
  • If we or any of our licensees breach any of the agreements under which we have in-licensed intellectual property from others, we could be deprived of important intellectual property rights and future revenue.
  • Healthcare policy changes may have a material adverse effect on us.
  • Whole-product solutions medical devices and other products incorporating our technologies are subject to increasing scrutiny and regulations, including extensive approval/clearance processes and manufacturing requirements. Any adverse regulatory and/or enforcement action (for us or our licensees) may materially affect our financial condition and business operations.
  • We may face liability if we mishandle or improperly dispose of the hazardous materials used in some of our research, development and manufacturing processes.
Management Discussion
  • ITEM 7.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
  • Surmodics, Inc. and subsidiaries (referred to as “Surmodics,” the “Company,” “we,” “us,” “our” and other like terms) is a leading provider of surface modification technologies for intravascular medical devices and chemical components for in vitro diagnostic (“IVD”) immunoassay tests and microarrays. Surmodics is pursuing development and commercialization of highly differentiated medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements. This key growth strategy leverages the combination of the Company’s expertise in proprietary surface technologies, along with enhanced device design, development, and manufacturing capabilities. The Company mission remains to improve the detection and treatment of disease.
  • Our business model for our whole-product solutions strategy within our Medical Device segment is to design, develop and manufacture highly differentiated products that incorporate our proprietary catheter, balloon, thrombectomy and/or surface modification coating technologies to improve patient outcomes and reduce procedure costs, while maintaining patient safety. We are focused on developing devices that meet the needs of a spectrum of care settings ranging from hospitals, to ambulatory surgery centers, to office-based interventional labs in order to provide improved care and address unmet needs in the treatment of peripheral artery disease (“PAD”) and other vascular diseases.
Content analysis
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New words: begun, build, colorimetric, comparison, conversely, experienced, largely, longevity, mitigating, notably, onset, reagent, recover, Relieve, resurgence, submission
Removed: adjust, clearing, consisting, determine, direct, distribute, dynamic, effectively, enhancement, evolving, final, incorporating, Likewise, monitoring, nature, profitability, rapidly, sell, spread, supply, unprecedented, world