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

Investment analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX - Get Free Report) in a research report issued on Friday. The firm set 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 analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $50.00.

Surmodics Stock Down 1.4 %

NASDAQ SRDX traded down $0.56 during trading hours on Friday, hitting $38.44. The company's stock had a trading volume of 498,572 shares, compared to its average volume of 254,062. The company has a market capitalization of $549.46 million, a PE ratio of -47.46 and a beta of 1.21. 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 52 week low of $25.17 and a 52 week high of $42.44. The company's 50-day simple moving average is $39.30 and its two-hundred day simple moving average is $39.75.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Research analysts anticipate that Surmodics will post 0.17 EPS for the current fiscal year.

Insider Transactions at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the 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 sale, the chief financial officer now directly owns 70,350 shares of the company's stock, valued at approximately $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SRDX. Modus Advisors LLC bought a new stake in shares of Surmodics in the fourth quarter worth $40,000. Quest Partners LLC grew its position in shares of Surmodics by 107,100.0% during the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company's stock valued at $42,000 after acquiring an additional 1,071 shares during the period. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics in the 3rd quarter worth $67,000. Hardin Capital Partners LLC bought a new position in Surmodics in the 2nd quarter worth $206,000. Finally, SG Americas Securities LLC purchased a new position in Surmodics during the third quarter valued at $220,000. 96.63% of the stock is owned by 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).