Surmodics (NASDAQ:SRDX) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX - Free Report) in a research note issued to investors on Saturday morning. The brokerage issued a hold rating on the stock.

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

Surmodics Stock Performance

SRDX traded up $0.24 during midday trading on Friday, reaching $36.88. The company's stock had a trading volume of 410,635 shares, compared to its average volume of 152,510. The stock has a market cap of $527.02 million, a P/E ratio of -45.53 and a beta of 1.21. The company has a fifty day simple moving average of $39.14 and a 200 day simple moving average of $39.53. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.14. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Research analysts expect that Surmodics will post 0.19 earnings per share for the current year.

Insider Buying and Selling

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. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surmodics

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new stake in Surmodics in the third quarter worth about $1,190,000. Oddo BHF Asset Management Sas acquired a new stake in shares of Surmodics during the 3rd quarter worth approximately $6,593,000. Sagefield Capital LP bought a new stake in shares of Surmodics during the second quarter worth approximately $2,350,000. Murchinson Ltd. acquired a new position in Surmodics in the third quarter valued at approximately $2,133,000. Finally, State Street Corp grew its holdings in Surmodics by 19.2% during the 3rd quarter. State Street Corp now owns 374,068 shares of the company's stock worth $14,506,000 after acquiring an additional 60,240 shares during the period. 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).