Surmodics, Inc. (NASDAQ:SRDX) CFO Sells $276,434.96 in Stock

Surmodics, Inc. (NASDAQ:SRDX) CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Surmodics Price Performance

Surmodics stock traded down $0.03 during trading hours on Wednesday, hitting $39.55. 65,871 shares of the company traded hands, compared to its average volume of 228,987. The firm’s 50-day simple moving average is $38.50 and its two-hundred day simple moving average is $39.58. The firm has a market cap of $566.75 million, a P/E ratio of -48.65 and a beta of 1.20. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SRDX. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. StockNews.com assumed coverage on Surmodics in a research report on Saturday. They issued a “hold” rating on the stock. Five equities research 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.

Institutional Investors Weigh In On Surmodics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Surmodics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock worth $25,385,000 after acquiring an additional 5,927 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after purchasing an additional 28,990 shares during the last quarter. State Street Corp increased its stake in Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock worth $14,506,000 after purchasing an additional 60,240 shares in the last quarter. Gabelli Funds LLC lifted its stake in Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares in the last quarter. Finally, Gardner Lewis Asset Management L P acquired a new position in shares of Surmodics in the second quarter worth about $8,531,000. 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).