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

Stock analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Monday. The brokerage set a “hold” rating on the stock.

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

Surmodics Stock Performance

Surmodics stock opened at $40.00 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. The stock has a market cap of $573.20 million, a PE ratio of -49.38 and a beta of 1.22. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The business’s 50-day moving average price is $38.61 and its two-hundred day moving average price is $39.90.

Surmodics (NASDAQ:SRDX) last announced its quarterly 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. The company had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. As a group, analysts expect that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the completion of the sale, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The transaction 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SRDX. Quest Partners LLC boosted 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 valued at $42,000 after purchasing an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Surmodics during the third quarter valued at $67,000. Hardin Capital Partners LLC acquired a new stake in Surmodics during the 2nd quarter worth about $206,000. SG Americas Securities LLC bought a new position in shares of Surmodics in the 3rd quarter worth about $220,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Surmodics in the 2nd quarter worth about $229,000. 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).