Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX - Get Free Report) in a research report issued to clients and investors on Tuesday. 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 equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $50.00.

Surmodics Stock Performance

Shares of Surmodics stock traded down $0.05 during trading hours on Tuesday, reaching $39.96. 68,076 shares of the stock traded hands, compared to its average volume of 225,951. Surmodics has a one year low of $25.17 and a one year high of $42.44. The firm has a market capitalization of $572.47 million, a price-to-earnings ratio of -49.33 and a beta of 1.22. 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 company has a 50 day moving average price of $38.84 and a 200 day moving average price of $40.01.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. On average, equities research analysts expect that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Renaissance Technologies LLC lifted its stake in Surmodics by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company's stock worth $25,499,000 after purchasing an additional 28,990 shares in the last quarter. State Street Corp lifted its position in shares of Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company's stock worth $14,506,000 after buying an additional 60,240 shares in the last quarter. Gabelli Funds LLC boosted its stake in Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company's stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new position in Surmodics during the 2nd quarter valued at approximately $8,531,000. Finally, Oddo BHF Asset Management Sas bought a new stake in Surmodics in the 3rd quarter worth approximately $6,593,000. 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).