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

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

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

Surmodics Price Performance

NASDAQ:SRDX opened at $38.44 on Friday. The business’s 50-day moving average is $39.32 and its 200 day moving average is $39.70. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a market capitalization of $549.46 million, a P/E ratio of -47.46 and a beta of 1.21. 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 (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 the consensus estimate of ($0.27) by $0.14. The business 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%. On average, equities research analysts forecast that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Surmodics

In related news, 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Surmodics

Several institutional investors have recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new stake in Surmodics in the fourth quarter worth $40,000. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 27,960 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Surmodics during the third quarter worth $1,190,000. Oddo BHF Asset Management Sas purchased a new stake in shares of Surmodics during the 3rd quarter worth $6,593,000. Finally, Barclays PLC lifted its position in shares of Surmodics by 16.0% during the third quarter. Barclays PLC now owns 88,750 shares of the company’s stock valued at $3,443,000 after buying an additional 12,271 shares during the last quarter. Institutional investors own 96.63% of the company’s stock.

Surmodics Company Profile

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).