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

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

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

Surmodics Stock Up 0.3 %

SRDX stock opened at $40.13 on Monday. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $38.64 and a two-hundred day moving average of $39.94. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a market cap of $575.06 million, a price-to-earnings ratio of -49.54 and a beta of 1.22.

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

Insiders Place Their Bets

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRDX. Quest Partners LLC raised its holdings in Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Surmodics by 3.5% in the second quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after buying an additional 1,221 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Surmodics by 1.3% during 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 last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics in the 3rd quarter worth about $67,000. Finally, Wolverine Asset Management LLC grew its stake in Surmodics by 6.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock valued at $1,077,000 after acquiring an additional 1,800 shares during the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).