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

Research analysts at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Sunday. The firm set a “hold” rating on the stock.

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

Surmodics Price Performance

Shares of SRDX stock opened at $38.15 on Friday. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a market capitalization of $545.16 million, a PE ratio of -47.10 and a beta of 1.21. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $39.04 and a 200-day simple moving average of $39.35.

Surmodics (NASDAQ:SRDX) last issued its earnings results 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. The business had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. Equities research analysts anticipate that Surmodics will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction that occurred on 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 approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position in Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after acquiring an additional 60,240 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Surmodics during the third quarter valued at approximately $6,593,000. Charles Schwab Investment Management Inc. raised its holdings in Surmodics by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after buying an additional 1,491 shares during the last quarter. Barclays PLC raised its holdings in shares of Surmodics by 16.0% in the 3rd quarter. Barclays PLC now owns 88,750 shares of the company’s stock worth $3,443,000 after acquiring an additional 12,271 shares during the last quarter. Finally, Phocas Financial Corp. bought a new stake in Surmodics during the third quarter worth $3,430,000. 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).