Surmodics (NASDAQ:SRDX) Sees Unusually-High Trading Volume

Shares of Surmodics, Inc. (NASDAQ:SRDX) saw unusually-high trading volume on Monday . Approximately 95,698 shares traded hands during trading, a decline of 26% from the previous session’s volume of 129,992 shares.The stock last traded at $41.91 and had previously closed at $41.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com began coverage on Surmodics in a research report on Sunday. They set a “hold” rating on the stock. Lake Street Capital restated a “hold” rating and issued a $43.00 price target on shares of Surmodics in a research report on Wednesday, May 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Wednesday, May 29th. Sidoti reissued a “neutral” rating and issued a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. Finally, Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.00.

Surmodics Trading Down 0.1 %

The stock has a fifty day moving average of $33.40 and a 200-day moving average of $32.87. The company has a market cap of $597.78 million, a PE ratio of 44.06 and a beta of 1.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.59 and a current ratio of 4.39.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.43. The business had revenue of $31.96 million during the quarter, compared to the consensus estimate of $28.79 million. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. During the same period last year, the company earned ($0.40) earnings per share. Sell-side analysts anticipate that Surmodics, Inc. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in shares of Surmodics by 18.8% during the third quarter. Acadian Asset Management LLC now owns 354,738 shares of the company’s stock worth $11,377,000 after acquiring an additional 56,012 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Surmodics in the first quarter worth approximately $1,270,000. Panagora Asset Management Inc. increased its holdings in Surmodics by 109.8% during the 4th quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after purchasing an additional 23,379 shares during the period. Vanguard Group Inc. raised its position in Surmodics by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 846,164 shares of the company’s stock valued at $27,153,000 after purchasing an additional 19,635 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Surmodics in the 4th quarter worth $504,000. 96.63% of the stock is 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).