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EDEN PRAIRIE, MN—Surmodics Inc. (NASDAQ:SRDX), a medical device company with a market capitalization of $488 million and annual revenue of $125 million, announced the results of its Annual Meeting of Shareholders held on February 6, 2025.
According to InvestingPro data, the company’s stock is currently trading near $34, showing mixed performance with a 4% gain over the past year but a 14% decline year-to-date. Shareholders voted on several key proposals, including the election of directors and executive compensation.
Gary R. Maharaj was re-elected as a Class II director with 8,404,069 votes in favor, 187,820 withheld, and 1,908,890 broker non-votes. The shareholders also approved the proposal to set the number of directors at five, with 10,441,062 votes in favor, 59,413 against, and 304 abstentions.
Additionally, the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year 2025 was ratified with 10,463,759 votes for, 35,348 against, and 1,672 abstentions.
In an advisory vote, the compensation of Surmodics’ named executive officers was approved with 7,415,339 votes in favor, 1,043,557 against, and 132,993 abstentions, alongside 1,908,890 broker non-votes.
These voting outcomes reflect shareholder support for the company’s governance and executive compensation practices. The company has not provided any additional comments regarding the implications of these results.
The information is based on a press release statement from Surmodics Inc. filed with the Securities and Exchange Commission. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 5.45 and operates with moderate debt levels.
Investors seeking deeper insights into Surmodics’ financial health and future prospects can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
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