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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued on Sunday. The firm issued a hold rating on the stock.

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

Surmodics Trading Down 0.2 %

Shares of Surmodics stock opened at $39.45 on Friday. The stock has a fifty day simple moving average of $38.52 and a 200 day simple moving average of $39.68. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a market capitalization of $565.16 million, a P/E ratio of -48.70 and a beta of 1.20. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. On average, sell-side analysts anticipate that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Timothy J. Arens sold 7,009 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the transaction, the chief financial officer now owns 70,350 shares of the company’s stock, valued at $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its position in shares of Surmodics by 107,100.0% during the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Surmodics by 3.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock worth $1,531,000 after purchasing an additional 1,221 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Surmodics by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after purchasing an additional 1,491 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in Surmodics during the 3rd quarter worth about $67,000. Finally, Wolverine Asset Management LLC lifted its holdings in Surmodics by 6.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock worth $1,077,000 after purchasing an additional 1,800 shares in the last quarter. 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).