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

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued on Tuesday. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has an average rating of “Hold” and an average price target of $50.00.

Surmodics Trading Up 0.5 %

NASDAQ:SRDX opened at $39.91 on Tuesday. The company has a market capitalization of $571.75 million, a P/E ratio of -49.27 and a beta of 1.22. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The firm has a fifty day simple moving average of $38.89 and a 200-day simple moving average of $40.01.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) 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 company had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $30.69 million. On average, equities research analysts anticipate that Surmodics will post 0.17 earnings per share for the current year.

Insider Activity at Surmodics

In related 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 value of $276,434.96. Following the completion of the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Surmodics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its position in shares of 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 purchasing an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of Surmodics in the 3rd quarter worth $67,000. Hardin Capital Partners LLC purchased a new position in Surmodics during the second quarter worth about $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 worth approximately $229,000. 96.63% of the stock is owned by hedge funds and other 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).