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 Friday morning. The firm issued a hold rating on the stock.

Other equities research analysts have also issued reports about the stock. Lake Street Capital reissued a hold rating and set a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Sidoti reiterated a neutral rating and issued a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. Barrington Research reiterated a market perform rating on shares of Surmodics in a research report on Thursday, May 30th. Finally, Needham & Company LLC reiterated a hold rating on shares of Surmodics in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $50.00.

Surmodics Trading Up 0.2 %

SRDX stock opened at $39.34 on Friday. 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 twelve month low of $25.17 and a twelve month high of $42.44. The stock has a market capitalization of $560.99 million, a price-to-earnings ratio of 41.41 and a beta of 1.20. The firm’s fifty day simple moving average is $40.29 and its two-hundred day simple moving average is $36.34.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. As a group, analysts anticipate that Surmodics will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Surmodics

Several large investors have recently bought and sold shares of SRDX. US Bancorp DE raised its stake in Surmodics by 61.9% during the 4th quarter. US Bancorp DE now owns 16,190 shares of the company’s stock worth $589,000 after acquiring an additional 6,193 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Surmodics during the fourth quarter worth $504,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Surmodics in the first quarter valued at about $223,000. BNP Paribas Financial Markets increased its position in Surmodics by 7.5% during the 1st 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 period. Finally, SG Americas Securities LLC boosted its position in shares of 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 purchasing an additional 660 shares in the last quarter. Hedge funds and other institutional investors 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).