Surmodics (NASDAQ:SRDX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the stock.

Separately, Needham & Company LLC reiterated 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Down 0.4 %

Shares of SRDX opened at $39.52 on Thursday. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. 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 stock has a fifty day simple moving average of $39.17 and a two-hundred day simple moving average of $39.83. The company has a market capitalization of $564.90 million, a PE ratio of -48.79 and a beta of 1.22.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. As a group, equities analysts forecast that Surmodics will post 0.17 EPS for the current year.

Insider Buying and Selling

In related news, CFO Timothy J. Arens sold 7,009 shares of the firm’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 transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Surmodics

Several hedge funds have recently made changes to their positions in the business. Modus Advisors LLC purchased a new position in Surmodics in the fourth quarter valued at $40,000. Quest Partners LLC raised 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 in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Surmodics in the 3rd quarter valued at about $67,000. Hardin Capital Partners LLC acquired a new position in shares of Surmodics during the second quarter worth about $206,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Surmodics during the second quarter worth approximately $229,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

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).