StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

Research analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued on Tuesday. 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 analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.00.

Surmodics Stock Down 0.0 %

NASDAQ:SRDX opened at $40.01 on Tuesday. The firm has a market cap of $573.34 million, a P/E ratio of -49.39 and a beta of 1.22. 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 fifty-two week low of $25.17 and a fifty-two week high of $42.44. The firm has a 50-day simple moving average of $38.80 and a two-hundred day simple moving average of $40.02.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. The firm had revenue of $33.23 million during 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%. Analysts predict that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the transaction, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Surmodics

A number of large investors have recently made changes to their positions in SRDX. Gabelli Funds LLC lifted its position in shares of Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the 2nd quarter worth approximately $8,531,000. Oddo BHF Asset Management Sas purchased a new position in shares of Surmodics during the 3rd quarter valued at approximately $6,593,000. Phocas Financial Corp. purchased a new position in shares of Surmodics during the 3rd quarter valued at approximately $3,430,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Surmodics by 4,722.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock valued at $2,877,000 after buying an additional 67,010 shares in the last quarter. 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).