Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Friday. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

NASDAQ SRDX opened at $39.25 on Friday. The company’s fifty day moving average is $38.50 and its two-hundred day moving average is $39.28. Surmodics has a 52-week low of $25.17 and a 52-week 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 firm has a market capitalization of $560.10 million, a price-to-earnings ratio of -48.46 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.77% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Equities research analysts forecast that Surmodics will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC increased its holdings in shares of Surmodics by 107,100.0% during the third 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 acquired a new stake in Surmodics during the 3rd quarter valued at $67,000. SG Americas Securities LLC lifted its position in Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after acquiring an additional 481 shares in the last quarter. 96.63% of the stock is owned by institutional investors.

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).