Surmodics (NASDAQ:SRDX) Issues Quarterly Earnings Results

Surmodics (NASDAQ:SRDX) issued its earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04, Zacks reports. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%.

Surmodics Price Performance

NASDAQ SRDX opened at $34.05 on Friday. The company’s 50 day simple moving average is $38.14 and its two-hundred day simple moving average is $38.88. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44.

Insider Activity

In related news, CFO Timothy J. Arens sold 7,009 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total value of $276,434.96. Following the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.90% of the company’s stock.

Analysts Set New Price Targets

SRDX has been the subject of several analyst reports. StockNews.com started coverage on shares of Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.00.

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).