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

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research report sent to investors on Sunday. The brokerage issued a hold rating on the stock.

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

Surmodics Stock Performance

Shares of Surmodics stock opened at $39.49 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The stock’s fifty day moving average price is $38.52 and its 200-day moving average price is $39.76. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results 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 return on equity of 3.79% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. On average, analysts expect that Surmodics will post 0.17 earnings per share for the current year.

Insider Activity

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 approximately $2,774,604. This trade represents a 9.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC grew its stake in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after acquiring an additional 1,071 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in shares of Surmodics in the third quarter valued at about $67,000. Hardin Capital Partners LLC purchased a new stake in shares of Surmodics during the second quarter worth about $206,000. The Manufacturers Life Insurance Company acquired a new position in shares of Surmodics during the 2nd quarter worth about $229,000. Finally, SG Americas Securities LLC purchased a new position in Surmodics in the 3rd quarter valued at about $220,000. 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).