Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Wednesday morning. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating, According to MarketBeat, Surmodics has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

Shares of NASDAQ:SRDX opened at $37.50 on Wednesday. The firm has a market capitalization of $535.01 million, a PE ratio of -375.00 and a beta of 1.20. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The business has a 50-day moving average of $38.81 and a two-hundred day moving average of $38.21.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.04. The firm had revenue of $30.34 million during the quarter, compared to analysts’ expectations 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, research analysts forecast that Surmodics will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Surmodics

A number of hedge funds have recently bought and sold shares of the business. Inspire Investing LLC purchased a new position in shares of Surmodics during the 3rd quarter valued at approximately $413,000. SG Americas Securities LLC acquired a new stake in Surmodics in the third quarter valued at $220,000. Water Island Capital LLC acquired a new stake in Surmodics in the second quarter valued at $1,160,000. Algert Global LLC bought a new position in Surmodics during the 2nd quarter valued at $577,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Surmodics during the 2nd quarter worth $273,000. 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).