Surmodics (NASDAQ:SRDX) Earns “Hold” Rating from Needham & Company LLC

Surmodics (NASDAQ:SRDX)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Separately, StockNews.com began coverage on shares of Surmodics in a research report on Sunday. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Trading Down 0.5 %

SRDX stock traded down $0.18 during mid-day trading on Thursday, reaching $35.61. 45,725 shares of the stock traded hands, compared to its average volume of 335,661. The stock’s fifty day moving average is $38.88 and its 200-day moving average is $39.23. 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 cap of $508.80 million, a P/E ratio of -43.96 and a beta of 1.21. 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 Thursday, January 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. As a group, sell-side analysts expect that Surmodics will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction 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 sale, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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. Squarepoint Ops LLC increased its stake in shares of Surmodics by 29.3% in the 2nd quarter. Squarepoint Ops LLC now owns 12,875 shares of the company’s stock valued at $541,000 after acquiring an additional 2,920 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Surmodics in the 2nd quarter valued at about $229,000. Mackenzie Financial Corp bought a new stake in shares of Surmodics in the 2nd quarter valued at about $267,000. Susquehanna Fundamental Investments LLC bought a new stake in Surmodics during the 2nd quarter worth approximately $273,000. Finally, Algert Global LLC bought a new stake in Surmodics during the 2nd quarter worth approximately $577,000. 96.63% of the stock is owned by institutional investors.

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).