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

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

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five 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 price target of $50.00.

Surmodics Stock Down 0.3 %

Surmodics stock opened at $39.49 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The company has a 50-day moving average price of $38.52 and a 200 day moving average price of $39.76. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44.

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

Insider Buying and Selling

In other Surmodics 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is owned by insiders.

Institutional Trading of Surmodics

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