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Fly News Breaks for August 7, 2018
SRDX
Aug 7, 2018 | 10:17 EDT
Barrington analyst Michael Petusky raised his price target for Surmodics to $73 citing the company's beat in Q3 and its progress on SurVeil DCB and 510(k) products. The analyst's sum-of-the-parts methodology assigns $38 per share for the core business, $22.75 for the SurVeil DCB program with Abbott (ABT), $7.50 for the 510(k) products program, and $4.75 per share for the net cash on the balance sheet. He keeps an Outperform rating on Surmodics.
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