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| SRDX - SurModics | Week Ended: 6/9/01 |
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| Price |
55.75 |
P/E Ratio |
192.75 |
52 Week High |
58.91 |
| Last Week |
- 0.70 |
Earnings Date |
n/a |
52 Week Low |
12.22 |
| Picked At |
58.00 |
Date Picked |
6/5/01 |
Sector |
Basic Materials |
| Activity |
| Current |
55.75 |
Open |
56.62 |
Change |
-0.55 |
| Low |
55.00 |
High |
56.62 |
Volume |
35,300 |
ZACKS | NEWS | PROFILE | HISTORICAL PRICES | OPTIONS | D-CHART |
| Company Description SurModics is a provider of surface modification solutions to the medical device industry. SRDX%s primary focus is the commercialization of its patented PhotoLink process through licensing agreements. For the three months ended 12/00, total revenues rose 16% to $4.8M. Net income rose 45% to $1.4M. Results reflects increased PhotoLink related revenue. Earnings also reflect higher investment income of $781K vs. $294K in 12/99.
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| Play Description June 3, 2001
This chemical provider to the medical industry has had a very good year thus far. Since January first it is up 57.5%. Moreover, it has been advancing in stages and bursts that result in the stock moving higher without ever being heavily overbought. SRDX just broke out of its current seven-week base on Monday and did so on convincing volume of 266,000 shares. We decided to wait one day for the inevitable pullback in order to get in at a slightly better price. Tuesday's volume on the pullback move was a heavy 440,000 shares, but we were encouraged by the fact that most of this volume came in while the stock was advancing higher into the close. We are also encouraged by the fact that the stock only retraced as far as support at $50.40. Traders that might be interested in getting into this high flyer could look to do so on a break above today's high of $59.25 on volume that puts the stock on track to do at least 300,000 for the day. This type of move would be confirmation of the new uptrend in the stock.
Picked on June 5th @ $58.00
Change Since Picked 0.00
Stop Loss @ $54.00
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| Update June 7, 2001
SRDX made up some lost ground on Thursday, but the stock failed
to close above its 5-dma at $56.41. Therefore, we will keep the
yellow caution flag raised until SRDX can conquer resistance at
$58.96. The stock did find support today around $55.30, which
also corresponds with the top of the base from which it just
broke out three days ago. That the stock didn’t fall back into
its base is a good sign. However, we won’t breathe easy until
SRDX can close above $58.96 on volume of at least 150,000 shares.
That being said, traders should hold off until SRDX can turn it
around by completing the aforementioned scenario.
Picked on June 5th @ $58.00
Change Since Picked –1.70
Stop Loss @ $54.00
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