Surmodics (NASDAQ:SRDX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a report published on Saturday morning. The brokerage issued a hold rating on the stock.

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

Surmodics Trading Up 0.7 %

Shares of SRDX opened at $36.88 on Friday. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $527.02 million, a P/E ratio of -45.53 and a beta of 1.21. The firm’s 50-day moving average is $39.11 and its two-hundred day moving average is $39.46.

Surmodics (NASDAQ:SRDX) last released 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. The business had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. On average, research analysts predict that Surmodics will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Surmodics

Several institutional investors and hedge funds have recently modified their holdings of SRDX. Modus Advisors LLC purchased a new stake in Surmodics in the 4th quarter valued at about $40,000. Quest Partners LLC grew its holdings in shares of Surmodics by 107,100.0% during 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 during the period. SG Americas Securities LLC raised its holdings in Surmodics by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after buying an additional 1,255 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after buying an additional 1,491 shares during the period. Finally, Longfellow Investment Management Co. LLC acquired a new position in Surmodics during the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

About Surmodics

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).