Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research report report published on Wednesday. The firm 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, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Trading Up 0.4 %

SRDX stock opened at $39.68 on Wednesday. The company has a market capitalization of $567.19 million, a PE ratio of -48.99 and a beta of 1.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. Surmodics has a one year low of $25.17 and a one year high of $42.44. The company’s 50 day moving average price is $38.98 and its two-hundred day moving average price is $39.93.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $30.69 million. As a group, analysts predict that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Surmodics

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were 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 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 company insiders.

Institutional Investors Weigh In On Surmodics

Large investors have recently modified their holdings of the stock. Quest Partners LLC raised its stake in Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after purchasing an additional 1,221 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Surmodics by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after purchasing an additional 1,491 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in Surmodics in the third quarter worth $67,000. Finally, Wolverine Asset Management LLC raised its holdings in Surmodics by 6.9% in the third quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock worth $1,077,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 96.63% of the company’s stock.

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).