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

Investment analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Wednesday. The brokerage set a “hold” rating on the stock.

SRDX has been the subject of several other research reports. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Wednesday, May 29th. Lake Street Capital reissued a “hold” rating and issued a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Finally, Sidoti reissued a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

NASDAQ:SRDX opened at $42.17 on Wednesday. The stock’s 50-day simple moving average is $38.95 and its 200 day simple moving average is $33.78. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The firm has a market capitalization of $601.34 million, a PE ratio of 44.39 and a beta of 1.18. The company has a quick ratio of 3.59, a current ratio of 4.39 and a debt-to-equity ratio of 0.24.

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

Hedge Funds Weigh In On Surmodics

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after acquiring an additional 660 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Surmodics by 15.7% in the 4th 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 boosted its holdings in shares of 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 purchasing an additional 673 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Surmodics by 7.5% in 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 in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Surmodics in the 1st quarter worth about $223,000. 96.63% of the stock is currently owned by 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).