Surmodics (NASDAQ:SRDX) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research report report published on Thursday. The firm 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 investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Up 0.2 %

SRDX stock traded up $0.06 during trading on Thursday, hitting $38.46. 34,589 shares of the company’s stock traded hands, compared to its average volume of 230,440. The firm has a market capitalization of $548.82 million, a P/E ratio of -47.41 and a beta of 1.20. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The business has a fifty day simple moving average of $38.60 and a two-hundred day simple moving average of $38.60.

Institutional Investors Weigh In On Surmodics

Several institutional investors have recently added to or reduced their stakes in SRDX. Vanguard Group Inc. grew its holdings in shares of Surmodics by 0.7% during the first quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after buying an additional 5,927 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after purchasing an additional 28,990 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after purchasing an additional 41,617 shares during the period. Gabelli Funds LLC boosted its position in Surmodics by 393.7% in the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Finally, Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the second quarter valued at approximately $8,531,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

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).