StockNews.com Begins Coverage on Surmodics (NASDAQ:SRDX)

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

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.00.

Surmodics Price Performance

Shares of NASDAQ SRDX opened at $39.45 on Friday. The firm has a market capitalization of $565.16 million, a P/E ratio of -48.70 and a beta of 1.20. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $38.52 and its two-hundred day simple moving average is $39.68. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44.

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

Insider Activity

In other news, CFO Timothy J. Arens sold 7,009 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Surmodics

Several institutional investors have recently modified their holdings of SRDX. Principal Financial Group Inc. bought a new position in Surmodics during the 3rd quarter worth approximately $1,190,000. Renaissance Technologies LLC grew its position in Surmodics by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after acquiring an additional 28,990 shares during the last quarter. Sagefield Capital LP bought a new position in Surmodics during the 2nd quarter worth approximately $2,350,000. Gardner Lewis Asset Management L P bought a new position in Surmodics during the 2nd quarter worth approximately $8,531,000. Finally, Trium Capital LLP bought a new position in Surmodics during the 2nd quarter worth approximately $1,406,000. 96.63% of the stock is currently owned by institutional investors.

About Surmodics

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).