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

Investment analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued on Thursday. The firm 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 research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Trading Down 0.1 %

Surmodics stock opened at $39.60 on Thursday. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The firm has a 50 day moving average of $39.11 and a 200 day moving average of $39.85. The firm has a market capitalization of $566.04 million, a price-to-earnings ratio of -48.89 and a beta of 1.22.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data 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. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. The business had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. As a group, research analysts predict that Surmodics will post 0.17 earnings per share for the current year.

Insider Activity at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of the firm’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 sale, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Surmodics

Institutional investors have recently bought and sold shares of the stock. Quest Partners LLC lifted its position in Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Surmodics during the third quarter worth $67,000. Hardin Capital Partners LLC bought a new stake in shares of Surmodics during the second quarter worth $206,000. SG Americas Securities LLC bought a new stake in shares of Surmodics during the third quarter worth $220,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Surmodics during the second quarter worth $229,000. 96.63% of the stock is currently owned by 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).