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Biotech / Medical : SRDX - SurModics - Biotech IPO
SRDX 31.15+5.7%Apr 28 3:59 PM EDT
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From: Lance Bredvold8/19/2024 9:57:43 AM
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Still another opportunity in SRDX after I assumed we would be locked into the $43 bid from an investment firm less time value of funds. The company announced the the FTC was asking for more information about the acquisition and both firms were speedily assembling information. But there would be a delay in the actual consummation of the deal to probably Q1-25.

Last week I was able to buy more shares at $39.50 for a presumed return of $43/$39.50 of 8.9% over about 6 months. And I've written elsewhere that my preference had been that this deal never happen despite the likelihood of a sudden decline in share price if it were cancelled. I believe current management can successfully market it's slate of products profitably and develop new ones resulting in a price higher than $43 within 5 years.

This morning the quoted price was $40.09 and that would reward me 7.25% to $43 in around 6 months. Still worth doing though I'm over my budgeted purchases for this month already. In fact, I prefer moving the gain from H2-24 to Q1-25 since I've harvested so many unusual gains this year from nearly all my holdings and next year may have none--at least I don't know that there will be many. I think I'll offer $39.75 for another batch and if it comes I'll be content.
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