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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Surmodics has an average rating of “Hold” and an average target price of $50.00.

Surmodics Stock Down 0.4 %

Shares of NASDAQ SRDX opened at $37.99 on Friday. The business has a 50-day moving average of $39.02 and a two-hundred day moving average of $39.30. The company has a market capitalization of $542.88 million, a price-to-earnings ratio of -46.90 and a beta of 1.21. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22.

Surmodics (NASDAQ:SRDX) last posted its 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 forecast that Surmodics will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of the 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 completion of the sale, the chief financial officer now owns 70,350 shares in the company, valued at $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Surmodics

A number of institutional investors and hedge funds have recently made changes to their positions in SRDX. State Street Corp increased its position in Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after acquiring an additional 60,240 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Surmodics during the 3rd quarter worth approximately $6,593,000. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 1,491 shares during the period. Barclays PLC boosted its holdings in Surmodics by 16.0% during the third quarter. Barclays PLC now owns 88,750 shares of the company’s stock worth $3,443,000 after buying an additional 12,271 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new stake in shares of Surmodics during the 3rd quarter worth approximately $3,430,000. 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).