Surmodics (NASDAQ:SRDX) Coverage Initiated by Analysts at StockNews.com

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

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

Surmodics Trading Down 1.4 %

NASDAQ SRDX opened at $38.44 on Friday. The business’s fifty day moving average is $39.30 and its 200-day moving average is $39.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The stock has a market capitalization of $549.46 million, a price-to-earnings ratio of -47.46 and a beta of 1.21. Surmodics has a one year low of $25.17 and a one year high of $42.44.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Equities research analysts predict that Surmodics will post 0.17 EPS for the current year.

Insider Buying and Selling

In related news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the sale, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Modus Advisors LLC bought a new position in shares of Surmodics in the fourth quarter valued at approximately $40,000. Quest Partners LLC lifted its stake in 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 purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in Surmodics in the 3rd quarter valued at $67,000. Hardin Capital Partners LLC purchased a new position in shares of Surmodics during the 2nd quarter valued at $206,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Surmodics in the second quarter worth $229,000. 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).