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

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

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

Surmodics Price Performance

SRDX opened at $38.44 on Friday. The company’s 50-day simple moving average is $39.32 and its two-hundred day simple moving average is $39.70. 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 has a market capitalization of $549.46 million, a P/E ratio of -47.46 and a beta of 1.21. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44.

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

Insider Transactions at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the company’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 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 $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Surmodics

Institutional investors have recently bought and sold shares of the business. Modus Advisors LLC purchased a new position in shares of Surmodics in the fourth quarter valued at about $40,000. Quest Partners LLC lifted its holdings in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in Surmodics in the 3rd quarter worth approximately $67,000. Hardin Capital Partners LLC purchased a new stake in Surmodics during the 2nd quarter valued at approximately $206,000. Finally, SG Americas Securities LLC purchased a new stake in Surmodics during the 3rd quarter valued at approximately $220,000. 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).