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

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Saturday. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC reissued 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 data from MarketBeat.com, Surmodics has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

NASDAQ SRDX opened at $36.88 on Friday. The business’s 50 day moving average is $39.14 and its two-hundred day moving average is $39.51. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. As a group, analysts expect that Surmodics will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction that occurred on Tuesday, November 26th. The stock was 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. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surmodics

Several hedge funds have recently bought and sold shares of SRDX. Principal Financial Group Inc. acquired a new stake in shares of Surmodics during the third quarter valued at $1,190,000. Oddo BHF Asset Management Sas purchased a new position in Surmodics in the 3rd quarter valued at about $6,593,000. Sagefield Capital LP acquired a new stake in shares of Surmodics during the 2nd quarter worth about $2,350,000. Murchinson Ltd. purchased a new stake in shares of Surmodics during the third quarter worth about $2,133,000. Finally, State Street Corp raised its position in shares of Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after buying an additional 60,240 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Surmodics Company Profile

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).