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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report published 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 research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.00.

Surmodics Price Performance

Shares of SRDX stock opened at $36.88 on Friday. The firm’s 50-day simple moving average is $39.14 and its 200-day simple moving average is $39.51. 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 has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results 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 net margin of 9.15% and a negative return on equity of 3.79%. The company had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. As a group, research analysts anticipate that Surmodics will post 0.19 earnings per share for the current year.

Insider Transactions at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s 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 transaction, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Surmodics

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

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).