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

Stock analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued 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 MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Down 0.0 %

Shares of Surmodics stock opened at $39.67 on Wednesday. The stock has a market capitalization of $567.04 million, a PE ratio of -48.97 and a beta of 1.22. 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 company has a 50-day simple moving average of $39.00 and a two-hundred day simple moving average of $39.93. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.14. The firm had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. On average, analysts anticipate that Surmodics will post 0.17 EPS for the current fiscal year.

Insider Activity

In related 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 transaction 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 approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRDX. Principal Financial Group Inc. purchased a new stake in Surmodics during the 3rd quarter valued at approximately $1,190,000. Oddo BHF Asset Management Sas bought a new position in shares of Surmodics during the third quarter worth $6,593,000. Renaissance Technologies LLC grew its stake in Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after acquiring an additional 28,990 shares in the last quarter. Gardner Lewis Asset Management L P bought a new stake in Surmodics in the 2nd quarter valued at $8,531,000. Finally, Sagefield Capital LP purchased a new stake in Surmodics in the 2nd quarter worth $2,350,000. 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).