Needham & Company LLC Reiterates Hold Rating for Surmodics (NASDAQ:SRDX)

Surmodics (NASDAQ:SRDX)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

Separately, StockNews.com began coverage on Surmodics in a research note on Thursday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

NASDAQ SRDX opened at $38.49 on Thursday. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44. The company has a market capitalization of $549.14 million, a P/E ratio of -384.90 and a beta of 1.20. The business has a 50 day moving average price of $38.62 and a 200 day moving average price of $38.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22.

Institutional Investors Weigh In On Surmodics

A number of large investors have recently bought and sold shares of SRDX. SG Americas Securities LLC boosted its holdings in shares of Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after purchasing an additional 660 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of 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 last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Surmodics by 7.5% during the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after purchasing an additional 481 shares during the last quarter. Hardin Capital Partners LLC acquired a new stake in shares of Surmodics during the second quarter worth $206,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Surmodics during the second quarter worth $229,000. 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).