Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued on Tuesday. The firm set a “hold” rating on the stock.

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

Surmodics Stock Down 0.0 %

Shares of NASDAQ:SRDX opened at $40.01 on Tuesday. The business has a 50-day moving average price of $38.80 and a 200 day moving average price of $40.02. 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 capitalization of $573.34 million, a price-to-earnings ratio of -49.39 and a beta of 1.22. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.14. The company had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Sell-side analysts expect that Surmodics will post 0.17 EPS for the current year.

Insider Buying and Selling at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the transaction, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SRDX. Quest Partners LLC lifted its position in shares of Surmodics by 107,100.0% in the third 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 in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Surmodics by 3.5% in the second quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,221 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after acquiring an additional 1,491 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics in the third quarter valued at $67,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Surmodics by 6.9% in the third quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock valued at $1,077,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds 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).