Timothy J. Arens Sells 7,009 Shares of Surmodics, Inc. (NASDAQ:SRDX) Stock

Surmodics, Inc. (NASDAQ:SRDX) CFO Timothy J. Arens sold 7,009 shares of the firm’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 sale, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Surmodics Price Performance

Shares of SRDX stock opened at $39.54 on Friday. The stock has a 50-day moving average price of $38.51 and a 200 day moving average price of $39.58. 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, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. As a group, analysts predict that Surmodics, Inc. will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Surmodics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC boosted its holdings in Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Surmodics during the 3rd quarter valued at about $67,000. Lazard Asset Management LLC lifted its holdings in shares of Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares in the last quarter. Hardin Capital Partners LLC bought a new position in shares of Surmodics during the 2nd quarter valued at about $206,000. Finally, SG Americas Securities LLC bought a new position in shares of Surmodics during the 3rd quarter valued at about $220,000. Institutional investors own 96.63% of the company’s stock.

Analyst Ratings Changes

SRDX has been the subject of a number of research reports. StockNews.com initiated coverage on Surmodics in a research note on Saturday, November 23rd. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics has an average rating of “Hold” and an average price target of $50.00.

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).