Surmodics, Inc. (NASDAQ:SRDX) CFO Timothy J. Arens Sells 7,009 Shares

Surmodics, Inc. (NASDAQ:SRDX) CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total value of $276,434.96. Following the completion of the sale, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Surmodics Price Performance

Shares of SRDX stock opened at $39.54 on Thursday. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44. The firm has a market cap of $566.61 million, a price-to-earnings ratio of -48.81 and a beta of 1.20. The stock has a 50-day moving average price of $38.50 and a 200 day moving average price of $39.58.

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 analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. The business had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Research analysts expect that Surmodics, Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares in the last quarter. Quest Partners LLC increased its stake in Surmodics by 107,100.0% during the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares in the last quarter. Los Angeles Capital Management LLC raised 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 buying an additional 1,221 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after buying an additional 1,491 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of Surmodics in the third quarter valued at approximately $67,000. 96.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SRDX shares. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. StockNews.com began coverage on shares of Surmodics in a research note on Saturday, November 23rd. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.00.

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).