Surmodics (NASDAQ:SRDX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note published on Wednesday morning. The firm issued a hold rating on the stock.

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

Surmodics Stock Performance

Surmodics stock opened at $39.44 on Wednesday. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The company has a market cap of $563.76 million, a PE ratio of -48.69 and a beta of 1.22. The company’s 50-day moving average is $39.03 and its two-hundred day moving average is $39.91.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) 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 for the quarter, compared to analyst estimates of $30.69 million. Equities analysts anticipate that Surmodics will post 0.17 earnings per share for the current year.

Insider Activity at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SRDX. Quest Partners LLC grew its holdings 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 purchasing an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in Surmodics in the third quarter valued at $67,000. Hardin Capital Partners LLC purchased a new position in shares of Surmodics during the 2nd quarter valued at about $206,000. SG Americas Securities LLC acquired a new position in Surmodics in the third quarter valued at approximately $220,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Surmodics in the second quarter valued at $229,000. 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).