Surmodics (NASDAQ:SRDX) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued on Friday. The firm set 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 equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $38.44 on Friday. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company’s 50 day moving average is $39.32 and its 200 day moving average is $39.71. 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 company has a market cap of $549.46 million, a PE ratio of -47.46 and a beta of 1.21.

Surmodics (NASDAQ:SRDX) last issued 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 company had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. On average, sell-side analysts forecast that Surmodics will post 0.17 EPS for the current year.

Insider Transactions at Surmodics

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

Institutional Investors Weigh In On Surmodics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Modus Advisors LLC acquired a new stake in Surmodics in the 4th quarter valued at $40,000. JPMorgan Chase & Co. grew its stake in Surmodics by 192.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company’s stock valued at $1,647,000 after acquiring an additional 27,960 shares during the period. Principal Financial Group Inc. acquired a new stake in Surmodics in the 3rd quarter valued at $1,190,000. Oddo BHF Asset Management Sas acquired a new stake in Surmodics in the 3rd quarter valued at $6,593,000. Finally, Barclays PLC grew its stake in Surmodics by 16.0% in the 3rd quarter. Barclays PLC now owns 88,750 shares of the company’s stock valued at $3,443,000 after acquiring an additional 12,271 shares during the period. Institutional investors and hedge funds 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).