StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX - Get Free Report) in a research note issued on Monday. The firm set 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics has an average rating of "Hold" and an average price target of $50.00.
View Our Latest Stock Analysis on SRDX
Surmodics Trading Up 0.3 %
NASDAQ SRDX traded up $0.13 during trading hours on Monday, reaching $40.13. 99,278 shares of the stock traded hands, compared to its average volume of 227,284. The stock has a 50 day simple moving average of $38.61 and a two-hundred day simple moving average of $39.90. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. 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 (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.14. The business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Equities research analysts anticipate that Surmodics will post 0.17 EPS for the current year.
Insider Activity
In related news, CFO Timothy J. Arens sold 7,009 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were 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 of the company's stock, valued at approximately $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.90% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new stake in shares of Surmodics during the 3rd quarter valued at about $1,190,000. Renaissance Technologies LLC raised its position 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 during the period. Sagefield Capital LP purchased a new stake in Surmodics in the 2nd quarter worth about $2,350,000. Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the 2nd quarter worth about $8,531,000. Finally, Trium Capital LLP purchased a new stake in Surmodics in the 2nd quarter worth about $1,406,000. Institutional investors own 96.63% of the company's stock.
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).
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