Surmodics (NASDAQ:SRDX) Stock Price Down 5.5% – What’s Next?

Surmodics, Inc. (NASDAQ:SRDX) shares dropped 5.5% during mid-day trading on Tuesday . The company traded as low as $35.70 and last traded at $35.89. Approximately 221,419 shares were traded during trading, a decline of 34% from the average daily volume of 337,882 shares. The stock had previously closed at $37.99.

Analyst Ratings Changes

Several research analysts recently commented on SRDX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Thursday. StockNews.com assumed coverage on shares of Surmodics in a research note on Sunday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

The company has a 50-day moving average of $38.81 and a 200 day moving average of $39.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The firm has a market cap of $507.15 million, a P/E ratio of -43.80 and a beta of 1.21.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, January 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. On average, sell-side analysts anticipate that Surmodics, Inc. will post 0.19 EPS 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 stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the completion of the transaction, the chief financial officer now owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Large investors have recently made changes to their positions in the business. Modus Advisors LLC bought a new position in shares of Surmodics in the fourth quarter valued at about $40,000. Quest Partners LLC raised its stake in shares of Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after acquiring an additional 1,071 shares during the last quarter. R Squared Ltd bought a new position in shares of Surmodics in the fourth quarter worth about $55,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Surmodics during the third quarter worth approximately $67,000. Finally, SG Americas Securities LLC bought a new stake in shares of Surmodics during the third quarter valued at approximately $220,000. Institutional investors own 96.63% of the company’s stock.

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).