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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Wednesday. The brokerage issued a hold rating on the stock.

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

Surmodics Stock Performance

Shares of SRDX stock opened at $39.68 on Wednesday. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44. The firm’s 50-day simple moving average is $38.98 and its two-hundred day simple moving average is $39.93. The firm has a market cap of $567.19 million, a price-to-earnings ratio of -48.99 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 (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. As a group, equities analysts forecast that Surmodics will post 0.17 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy J. Arens sold 7,009 shares of the firm’s 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 transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction 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 owned by company insiders.

Institutional Trading of Surmodics

Several institutional investors and hedge funds have recently bought and sold shares of SRDX. Gabelli Funds LLC grew its position in shares of Surmodics by 393.7% during the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after purchasing an additional 207,500 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new stake in shares of Surmodics in the 2nd quarter valued at about $8,531,000. Oddo BHF Asset Management Sas purchased a new stake in shares of Surmodics in the 3rd quarter valued at about $6,593,000. Phocas Financial Corp. bought a new stake in shares of Surmodics during the 3rd quarter valued at about $3,430,000. Finally, Versor Investments LP purchased a new position in shares of Surmodics during the second quarter worth about $2,723,000. 96.63% of the stock is currently 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).