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

Equities researchers at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Saturday. The firm set a “hold” rating on the stock.

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

Surmodics Stock Performance

NASDAQ:SRDX opened at $36.88 on Friday. The firm has a market capitalization of $527.16 million, a P/E ratio of -45.53 and a beta of 1.21. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a fifty day moving average of $39.14 and a 200-day moving average of $39.53. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.14. The firm had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. As a group, sell-side analysts anticipate that Surmodics will post 0.19 EPS for the current year.

Insider Transactions at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total value of $276,434.96. Following the transaction, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Surmodics

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in shares of Surmodics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after buying an additional 1,255 shares during the last quarter. Modus Advisors LLC bought a new position in Surmodics during the 4th quarter valued at $40,000. JPMorgan Chase & Co. boosted its holdings in Surmodics by 192.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company’s stock worth $1,647,000 after acquiring an additional 27,960 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Surmodics in the 3rd quarter worth $1,190,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Surmodics in the third quarter valued at about $6,593,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

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).