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

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Wednesday morning. 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 Monday, August 5th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Trading Down 0.0 %

Shares of SRDX stock opened at $37.50 on Wednesday. The business’s fifty day moving average price is $38.81 and its 200 day moving average price is $38.21. The firm has a market capitalization of $535.01 million, a PE ratio of -375.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after buying an additional 660 shares during the last quarter. Lazard Asset Management LLC grew its stake in Surmodics by 13.4% in 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 period. BNP Paribas Financial Markets raised its holdings 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 during the last quarter. Hardin Capital Partners LLC purchased a new position in shares of Surmodics during the 2nd 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. 96.63% of the stock is currently owned by hedge funds and other 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).