StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

Analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

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

Surmodics Stock Up 0.4 %

Surmodics stock opened at $39.68 on Wednesday. The firm has a market cap of $568.46 million, a price-to-earnings ratio of -48.99 and a beta of 1.22. The firm has a fifty day moving average price of $38.96 and a two-hundred day moving average price of $39.93. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22.

Surmodics (NASDAQ:SRDX) last announced 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 firm 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%. As a group, analysts forecast that Surmodics will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Timothy J. Arens sold 7,009 shares of the company’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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Several institutional investors have recently bought and sold shares of SRDX. Quest Partners LLC boosted its stake in shares of 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 purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Surmodics in the third quarter valued at about $67,000. Hardin Capital Partners LLC bought a new stake in Surmodics during the second quarter worth about $206,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Surmodics during the second quarter worth approximately $229,000. Finally, SG Americas Securities LLC bought a new position in shares of Surmodics in the third quarter valued at approximately $220,000. Institutional investors and hedge funds 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).