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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the stock.

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

Surmodics Stock Performance

Shares of NASDAQ:SRDX opened at $38.13 on Tuesday. 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 52 week low of $25.17 and a 52 week high of $42.44. The firm has a fifty day simple moving average of $39.01 and a two-hundred day simple moving average of $37.85. The stock has a market capitalization of $544.12 million, a P/E ratio of -381.30 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.04. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. On average, analysts expect that Surmodics will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Surmodics by 11.3% during the 1st quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after purchasing an additional 41,617 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Surmodics by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after acquiring an additional 28,990 shares during the period. Gardner Lewis Asset Management L P bought a new stake in Surmodics during the second quarter valued at about $8,531,000. Sagefield Capital LP bought a new position in Surmodics in the second quarter worth about $2,350,000. Finally, Trium Capital LLP purchased a new stake in Surmodics during the second quarter valued at approximately $1,406,000. 96.63% of the stock is currently owned by hedge funds and other 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).