Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued on Friday. 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, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

Shares of NASDAQ SRDX opened at $39.00 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. Surmodics has a one year low of $25.17 and a one year high of $42.44. The firm has a market capitalization of $557.47 million, a P/E ratio of -48.15 and a beta of 1.21. The company’s fifty day moving average is $39.30 and its two-hundred day moving average is $39.75.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Analysts forecast that Surmodics will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy J. Arens sold 7,009 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value 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 approximately $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Several institutional investors have recently made changes to their positions in SRDX. Bank of New York Mellon Corp boosted its holdings in Surmodics by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock valued at $2,464,000 after acquiring an additional 8,220 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Surmodics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after purchasing an additional 2,463 shares in the last quarter. Hardin Capital Partners LLC purchased a new stake in shares of Surmodics during the 2nd quarter worth about $206,000. Renaissance Technologies LLC increased its position in Surmodics by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after purchasing an additional 28,990 shares in the last quarter. Finally, Gardner Lewis Asset Management L P purchased a new position in Surmodics in the second quarter valued at approximately $8,531,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

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).