Surmodics (NASDAQ:SRDX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Sunday. The brokerage issued a hold rating on the stock.

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

Surmodics Price Performance

SRDX opened at $35.79 on Friday. Surmodics has a one year low of $25.17 and a one year high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The company’s 50 day simple moving average is $38.95 and its 200-day simple moving average is $39.26. The stock has a market capitalization of $511.44 million, a P/E ratio of -44.18 and a beta of 1.21.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) 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 business had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Sell-side analysts anticipate that Surmodics will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Surmodics

In other news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction dated 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 $2,774,604. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

A number of institutional investors have recently bought and sold shares of SRDX. State Street Corp increased its position 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 purchasing an additional 60,240 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Surmodics during the third quarter worth $6,593,000. Charles Schwab Investment Management Inc. boosted its stake in Surmodics by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after acquiring an additional 1,491 shares in the last quarter. Barclays PLC raised its holdings in Surmodics by 16.0% during the third quarter. Barclays PLC now owns 88,750 shares of the company’s stock worth $3,443,000 after buying an additional 12,271 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in Surmodics during the third quarter worth $3,430,000. 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).