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

Equities research analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Monday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Trading Down 1.3 %

SRDX opened at $33.62 on Monday. The firm has a 50 day simple moving average of $38.47 and a 200 day simple moving average of $39.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The company has a market cap of $480.77 million, a price-to-earnings ratio of -33.29 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. On average, sell-side analysts anticipate that Surmodics will post 0.19 earnings per share for the current 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 that occurred on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the sale, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Surmodics

Large investors have recently made changes to their positions in the stock. Modus Advisors LLC bought a new stake in Surmodics in the 4th quarter valued at $40,000. Quest Partners LLC increased its holdings in 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 in the last quarter. R Squared Ltd acquired a new stake in shares of Surmodics in the 4th quarter valued at about $55,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Surmodics in the third quarter valued at about $67,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Surmodics during the second quarter worth about $229,000. 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).