Surmodics (NASDAQ:SRDX) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Friday. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

NASDAQ:SRDX opened at $38.44 on Friday. The company has a market capitalization of $549.46 million, a PE ratio of -47.46 and a beta of 1.21. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The company has a 50 day simple moving average of $39.30 and a two-hundred day simple moving average of $39.75.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. The business had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Research analysts anticipate that Surmodics will post 0.17 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Surmodics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Modus Advisors LLC bought a new stake in Surmodics during the fourth quarter worth $40,000. Quest Partners LLC grew its stake in shares of Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after acquiring an additional 1,071 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after purchasing an additional 1,491 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Surmodics during the third quarter valued at about $67,000. Finally, Wolverine Asset Management LLC boosted its holdings in Surmodics by 6.9% during the third quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock worth $1,077,000 after purchasing an additional 1,800 shares during the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.

About Surmodics

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).