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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Wednesday morning. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC reiterated 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 company currently has an average rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

Shares of SRDX stock opened at $39.44 on Wednesday. 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 firm has a market cap of $563.76 million, a P/E ratio of -48.69 and a beta of 1.22. Surmodics has a one year low of $25.17 and a one year high of $42.44. The firm’s 50 day moving average price is $39.03 and its 200-day moving average price is $39.91.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. As a group, equities research analysts predict that Surmodics will post 0.17 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Timothy J. Arens sold 7,009 shares of Surmodics stock in a transaction on Tuesday, November 26th. The stock was 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. The trade was a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Surmodics by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock worth $2,464,000 after purchasing an additional 8,220 shares in the last quarter. Versor Investments LP bought a new position in Surmodics during the second quarter worth about $2,723,000. Rhumbline Advisers raised its position in shares of Surmodics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after acquiring an additional 2,463 shares during the period. Wolverine Asset Management LLC acquired a new position in Surmodics during the second quarter valued at approximately $1,092,000. Finally, Los Angeles Capital Management LLC raised 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 worth $1,531,000 after purchasing an additional 1,221 shares during the period. Institutional investors and hedge funds 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).