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Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

Surmodics logo with Medical background

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX - Free Report) in a research report released on Thursday morning. The brokerage issued 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 research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $50.00.

View Our Latest Research Report on Surmodics

Surmodics Trading Up 0.2 %

Surmodics stock traded up $0.08 during midday trading on Thursday, reaching $39.68. The stock had a trading volume of 216,719 shares, compared to its average volume of 223,542. The stock has a market capitalization of $567.19 million, a PE ratio of -48.99 and a beta of 1.22. 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 stock's 50-day simple moving average is $39.11 and its 200 day simple moving average is $39.85. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (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 during the quarter, compared to analysts' expectations of $30.69 million. Analysts expect that Surmodics will post 0.17 EPS for the current year.

Insider Buying and Selling at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its stake in shares of Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company's stock valued at $42,000 after purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Surmodics in the 3rd quarter valued at approximately $67,000. Hardin Capital Partners LLC acquired a new stake in shares of Surmodics during the 2nd quarter valued at approximately $206,000. SG Americas Securities LLC acquired a new position in Surmodics in the third quarter worth $220,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Surmodics during the second quarter valued at $229,000. 96.63% of the stock is owned by institutional investors and hedge funds.

About Surmodics

(Get Free Report)

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).

Further Reading

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