StockNews.com Begins Coverage on Surmodics (NASDAQ:SRDX)

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

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

Surmodics Price Performance

Shares of Surmodics stock opened at $39.94 on Monday. 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 stock has a market capitalization of $572.18 million, a price-to-earnings ratio of -49.31 and a beta of 1.22. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44. The firm’s 50-day moving average price is $38.67 and its two-hundred day moving average price is $39.98.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data 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. The firm had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. On average, equities analysts predict 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 the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Surmodics

Several large investors have recently bought and sold shares of the business. Quest Partners LLC lifted its holdings in Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Surmodics by 3.5% in the second quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after buying an additional 1,221 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after buying an additional 1,491 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in Surmodics in the third quarter valued at approximately $67,000. Finally, Wolverine Asset Management LLC lifted its holdings in Surmodics by 6.9% in the third quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock valued at $1,077,000 after buying an additional 1,800 shares during the period. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).