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

Equities research analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Friday. The brokerage set 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 analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Surmodics currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Trading Up 0.1 %

Shares of SRDX opened at $39.00 on Friday. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The stock’s 50-day moving average is $39.30 and its two-hundred day moving average is $39.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The stock has a market cap of $557.47 million, a PE ratio of -48.15 and a beta of 1.21.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Equities analysts forecast that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC lifted its stake in Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock worth $10,939,000 after purchasing an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P acquired a new stake in shares of Surmodics during the second quarter worth $8,531,000. Oddo BHF Asset Management Sas bought a new position in shares of Surmodics in the 3rd quarter worth about $6,593,000. Phocas Financial Corp. acquired a new position in shares of Surmodics in the 3rd quarter valued at about $3,430,000. Finally, State Street Corp grew its position in shares of Surmodics by 19.2% during the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after buying an additional 60,240 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

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).