StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX – Free Report) in a research note published on Monday. The brokerage issued a hold rating on the stock.
Separately, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Surmodics presently has an average rating of “Hold” and an average price target of $50.00.
View Our Latest Report on SRDX
Surmodics Stock Down 0.1 %
Surmodics (NASDAQ:SRDX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The firm had revenue of $30.34 million for the quarter, compared to analyst estimates of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. As a group, equities analysts predict that Surmodics will post -0.47 EPS for the current year.
Hedge Funds Weigh In On Surmodics
Several hedge funds and other institutional investors have recently made changes to their positions in SRDX. Hardin Capital Partners LLC bought a new stake in Surmodics during the second quarter worth $206,000. SG Americas Securities LLC raised its holdings in shares of Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Surmodics in the 2nd quarter valued at about $229,000. Lazard Asset Management LLC grew its holdings in Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares during the period. Finally, Bailard Inc. bought a new position in Surmodics during the second quarter worth about $257,000. 96.63% of the stock is owned by institutional investors.
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).
Featured Articles
- Five stocks we like better than Surmodics
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- The Role Economic Reports Play in a Successful Investment Strategy
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- Stock Splits, Do They Really Impact Investors?
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
Receive News & Ratings for Surmodics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surmodics and related companies with MarketBeat.com's FREE daily email newsletter.