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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a report published on Monday morning. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Trading Up 0.1 %

Shares of Surmodics stock opened at $34.07 on Monday. The stock has a 50 day moving average of $38.59 and a 200 day moving average of $39.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The firm has a market capitalization of $487.20 million, a price-to-earnings ratio of -33.73 and a beta of 1.20. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. As a group, research analysts predict that Surmodics will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $2,774,604. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Surmodics

Several hedge funds and other institutional investors have recently made changes to their positions in SRDX. New York State Common Retirement Fund grew its stake in shares of Surmodics by 12.4% during the fourth quarter. New York State Common Retirement Fund now owns 19,544 shares of the company’s stock worth $774,000 after purchasing an additional 2,162 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Surmodics by 17.5% during the 4th quarter. Principal Financial Group Inc. now owns 36,061 shares of the company’s stock worth $1,428,000 after acquiring an additional 5,365 shares in the last quarter. Rhumbline Advisers raised its position in shares of Surmodics by 4.4% during the 4th quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock worth $802,000 after acquiring an additional 861 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Surmodics during the 4th quarter worth about $55,000. Finally, SG Americas Securities LLC lifted its stake in Surmodics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after purchasing an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors 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).