Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Thursday. The firm issued a hold rating on the stock.

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

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $39.68 on Thursday. 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 firm has a market capitalization of $567.19 million, a price-to-earnings ratio of -48.99 and a beta of 1.22. The company’s fifty day moving average price is $39.14 and its 200-day moving average price is $39.84.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 3.79% and a negative net margin of 9.15%. On average, equities research analysts anticipate 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 company’s stock in a transaction that occurred on 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 owns 70,350 shares in the company, valued at approximately $2,774,604. This represents a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Surmodics

Several hedge funds have recently made changes to their positions in SRDX. Quest Partners LLC boosted its position in shares of Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Surmodics in the 3rd quarter worth about $67,000. Hardin Capital Partners LLC bought a new position in Surmodics in the 2nd quarter worth about $206,000. SG Americas Securities LLC bought a new stake in Surmodics during the 3rd quarter valued at about $220,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Surmodics in the second quarter worth about $229,000. 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).