Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the stock.

Several other research analysts have also commented on the company. Needham & Company LLC reiterated a hold rating on shares of Surmodics in a research report on Wednesday, May 29th. Barrington Research restated a market perform rating on shares of Surmodics in a research report on Thursday, May 30th. Lake Street Capital restated a hold rating and set a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. Finally, Sidoti restated a neutral rating and set a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of SRDX stock opened at $41.96 on Monday. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.36. The company has a current ratio of 4.39, a quick ratio of 3.59 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $35.77 and its 200-day moving average price is $33.33. The stock has a market capitalization of $598.35 million, a price-to-earnings ratio of 44.17 and a beta of 1.18.

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

Institutional Trading of Surmodics

Several institutional investors and hedge funds have recently modified their holdings of SRDX. SG Americas Securities LLC raised its stake in shares of Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after acquiring an additional 660 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after purchasing an additional 620 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Surmodics by 7.5% during the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after buying an additional 481 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Surmodics during the first quarter valued at $223,000. Institutional investors 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).