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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Saturday morning. 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

Shares of SRDX stock opened at $36.88 on Friday. 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 company’s fifty day moving average price is $39.11 and its two-hundred day moving average price is $39.46. The firm has a market capitalization of $527.02 million, a P/E ratio of -45.53 and a beta of 1.21. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. On average, research analysts anticipate that Surmodics will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction on 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 approximately $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Surmodics

A number of institutional investors have recently modified their holdings of SRDX. Modus Advisors LLC acquired a new position in Surmodics in the fourth quarter valued at approximately $40,000. Quest Partners LLC increased its position in Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in Surmodics in the third quarter valued at $67,000. SG Americas Securities LLC acquired a new position in shares of Surmodics during the third quarter valued at $220,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Surmodics during the second quarter worth about $229,000. 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).