Surmodics (NASDAQ:SRDX) Shares Down 5.5% – Here’s What Happened

Surmodics, Inc. (NASDAQ:SRDX)’s stock price traded down 5.5% during mid-day trading on Tuesday . The company traded as low as $35.70 and last traded at $35.89. 221,419 shares traded hands during trading, a decline of 34% from the average session volume of 337,882 shares. The stock had previously closed at $37.99.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com started coverage on shares of Surmodics in a report on Sunday. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Down 0.8 %

The firm has a market cap of $507.15 million, a P/E ratio of -43.80 and a beta of 1.21. The business’s fifty day moving average price is $38.81 and its two-hundred day moving average price is $39.21. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Thursday, January 30th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. As a group, equities research analysts anticipate that Surmodics, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction dated Tuesday, November 26th. The stock was 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. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in shares of Surmodics by 4.4% in the fourth quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock valued at $802,000 after acquiring an additional 861 shares during the period. Modus Advisors LLC bought a new stake in Surmodics in the 4th quarter valued at $40,000. Quest Partners LLC grew 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 worth $42,000 after purchasing an additional 1,071 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Surmodics by 22.1% during the 4th quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after purchasing an additional 1,255 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Surmodics during the fourth quarter valued at about $55,000. Institutional investors and hedge funds 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).