Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research report released on Thursday. 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

SRDX opened at $39.52 on Thursday. The company has a market cap of $564.90 million, a PE ratio of -48.79 and a beta of 1.22. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. 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 stock has a 50-day moving average of $39.17 and a 200-day moving average of $39.81.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data 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 firm had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. As a group, equities research analysts forecast that Surmodics will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,774,604. This trade represents a 9.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Modus Advisors LLC acquired a new position in Surmodics during the fourth quarter worth about $40,000. Quest Partners LLC lifted its holdings in shares of Surmodics by 107,100.0% in 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 in the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Surmodics in the third quarter valued at $67,000. Hardin Capital Partners LLC bought a new position in Surmodics during the 2nd quarter valued at $206,000. Finally, SG Americas Securities LLC bought a new stake in Surmodics in the 3rd quarter worth about $220,000. 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).