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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research report sent to investors on Monday morning. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Trading Up 0.7 %

Shares of SRDX opened at $33.85 on Monday. The business’s 50-day moving average price is $38.36 and its 200 day moving average price is $38.97. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $484.06 million, a P/E ratio of -33.51 and a beta of 1.20. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX) last released its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Analysts expect that Surmodics will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of Surmodics 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 sale, the chief financial officer now owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in shares of Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after purchasing an additional 60,240 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Surmodics in the 3rd quarter valued at approximately $6,593,000. Charles Schwab Investment Management Inc. increased its position in Surmodics by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after buying an additional 1,491 shares during the period. Barclays PLC lifted its holdings in shares of 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. bought a new stake in shares of Surmodics in the third quarter valued at approximately $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).