Surmodics, Inc. (NASDAQ:SRDX) CFO Timothy J. Arens Sells 7,009 Shares

Surmodics, Inc. (NASDAQ:SRDX) 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 completion of the sale, the chief financial officer now directly owns 70,350 shares of the company’s stock, valued at $2,774,604. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Surmodics Stock Performance

Shares of NASDAQ SRDX opened at $39.45 on Friday. 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 firm’s 50-day moving average price is $38.51 and its two-hundred day moving average price is $39.58. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The stock has a market capitalization of $565.32 million, a P/E ratio of -48.70 and a beta of 1.20.

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, topping the consensus estimate of ($0.27) by $0.14. The business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. As a group, sell-side analysts forecast that Surmodics, Inc. will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Surmodics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC lifted its position in 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 acquired a new stake in shares of Surmodics in the third quarter valued at approximately $67,000. Lazard Asset Management LLC raised its holdings in shares of Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares during the last quarter. Hardin Capital Partners LLC acquired a new position in shares of Surmodics during the second quarter worth approximately $206,000. Finally, SG Americas Securities LLC bought a new position in Surmodics in the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com started coverage on Surmodics in a report on Saturday, November 23rd. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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).