Insider Selling: Surmodics, Inc. (NASDAQ:SRDX) CFO Sells $276,434.96 in Stock

Surmodics, Inc. (NASDAQ:SRDX) CFO Timothy J. Arens sold 7,009 shares of the 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 completion of the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Surmodics Trading Down 0.2 %

Shares of SRDX opened at $39.45 on Friday. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44. The stock’s 50-day moving average is $38.51 and its two-hundred day moving average is $39.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The stock has a market cap of $565.32 million, a PE ratio of -48.70 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS 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 analyst estimates of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Equities analysts forecast that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRDX. Quest Partners LLC lifted its holdings in 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 buying an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics during the third quarter worth about $67,000. Lazard Asset Management LLC lifted its stake in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares in the last quarter. Hardin Capital Partners LLC purchased a new position in Surmodics in the second quarter valued at about $206,000. Finally, SG Americas Securities LLC acquired a new stake in Surmodics during the 3rd quarter valued at approximately $220,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SRDX shares. StockNews.com started coverage on Surmodics in a research note on Saturday, November 23rd. They set a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.00.

About Surmodics

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).