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

Investment analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued on Wednesday. The brokerage set a “hold” rating on the stock.

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

Surmodics Trading Up 0.4 %

Shares of SRDX stock opened at $39.68 on Wednesday. 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 50-day simple moving average of $38.96 and a 200 day simple moving average of $39.93. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The stock has a market capitalization of $568.46 million, a P/E ratio of -48.99 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, topping the consensus estimate of ($0.27) by $0.14. The company had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. On average, sell-side analysts expect that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total value of $276,434.96. Following the completion of the sale, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. This represents a 9.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surmodics

Several institutional investors have recently made changes to their positions in SRDX. Quest Partners LLC grew 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 acquiring an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Surmodics during the third quarter worth $67,000. Hardin Capital Partners LLC bought a new position in Surmodics during the second quarter valued at about $206,000. SG Americas Securities LLC acquired a new stake in shares of Surmodics in the third quarter worth about $220,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Surmodics during the 2nd quarter worth about $229,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).