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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report report published on Sunday 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, November 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $35.79 on Friday. The company has a 50 day moving average of $38.95 and a 200 day moving average of $39.26. The stock has a market cap of $511.44 million, a P/E ratio of -44.18 and a beta of 1.21. Surmodics has a 12 month low of $25.17 and a 12 month 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.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $30.69 million. As a group, sell-side analysts forecast that Surmodics will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock worth $14,506,000 after buying an additional 60,240 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Surmodics in the 3rd quarter worth about $6,593,000. Charles Schwab Investment Management Inc. grew its position in shares of Surmodics by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after buying an additional 1,491 shares during the period. Barclays PLC grew its position in shares of Surmodics by 16.0% in the 3rd quarter. Barclays PLC now owns 88,750 shares of the company’s stock worth $3,443,000 after buying an additional 12,271 shares during the period. Finally, Phocas Financial Corp. purchased a new stake in shares of Surmodics in the 3rd quarter worth about $3,430,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

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).