SurModics, Inc. (SRDX) was a big mover last session, as the company saw its shares surge around 15% on the day. The upside came after the company reported better-than-expected third-quarter 2015 results. The news led to far more shares changing hands than in a normal session resulting in solid volume.
This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $22.87 to $24.34 in the past one-month time frame.
None of the estimates for this medical products stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
SurModics currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same industry is Abaxis, Inc. (ABAX), sporting a Zacks Rank #1 (Strong Buy).
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