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

Research analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Tuesday. The brokerage set a “hold” rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.00.

Surmodics Price Performance

Surmodics stock opened at $39.70 on Tuesday. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $38.86 and its 200 day moving average is $40.01. The company has a market cap of $568.74 million, a price-to-earnings ratio of -49.01 and a beta of 1.22.

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

Insider Activity at Surmodics

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 owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a legal 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

A number of hedge funds and other institutional investors have recently bought and sold shares of SRDX. Principal Financial Group Inc. bought a new position in shares of Surmodics in the third quarter worth about $1,190,000. Oddo BHF Asset Management Sas bought a new position in Surmodics in the 3rd quarter worth about $6,593,000. Renaissance Technologies LLC increased its position in shares of Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after acquiring an additional 28,990 shares during the period. Sagefield Capital LP bought a new stake in shares of Surmodics during the second quarter valued at approximately $2,350,000. Finally, Gardner Lewis Asset Management L P bought a new stake in shares of Surmodics during the second quarter valued at approximately $8,531,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

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).