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

Analysts at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Thursday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reaffirmed 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Price Performance

SRDX stock opened at $39.52 on Thursday. The business has a 50 day moving average price of $39.17 and a 200 day moving average price of $39.83. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. The stock has a market cap of $564.90 million, a price-to-earnings ratio of -48.79 and a beta of 1.22. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data 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 business had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. Equities research analysts anticipate that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction dated 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 trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.90% of the stock is owned by insiders.

Institutional Trading of Surmodics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new position in shares of Surmodics in the third quarter valued at approximately $1,190,000. Oddo BHF Asset Management Sas purchased a new position in Surmodics in the 3rd quarter valued at $6,593,000. Renaissance Technologies LLC increased its stake in Surmodics by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after buying an additional 28,990 shares during the period. Gardner Lewis Asset Management L P purchased a new position in Surmodics during the 2nd quarter worth $8,531,000. Finally, Sagefield Capital LP acquired a new stake in shares of Surmodics in the 2nd quarter worth $2,350,000. 96.63% of the stock is owned by hedge funds and other 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).