Surmodics (NASDAQ:SRDX) Announces Earnings Results

Surmodics (NASDAQ:SRDX) announced its earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04, Zacks reports. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%.

Surmodics Trading Down 1.2 %

Shares of NASDAQ SRDX traded down $0.43 during midday trading on Thursday, reaching $35.35. 50,919 shares of the stock were exchanged, compared to its average volume of 335,761. 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 $505.15 million, a P/E ratio of -43.65 and a beta of 1.21. The stock has a 50 day moving average price of $38.88 and a 200-day moving average price of $39.23. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SRDX shares. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Thursday. StockNews.com started coverage on Surmodics in a research report on Sunday. They set a “hold” rating on the stock. Five 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.

Insiders Place Their Bets

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

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).