StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

Stock analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Monday. The firm set a “hold” rating on the stock.

A number of other analysts also recently issued reports on the company. Barrington Research reissued a “market perform” rating on shares of Surmodics in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Sidoti reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Finally, Lake Street Capital reissued a “hold” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

Shares of SRDX stock opened at $40.02 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The firm has a market cap of $570.69 million, a price-to-earnings ratio of 42.13 and a beta of 1.18. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44. The firm’s 50-day simple moving average is $41.53 and its two-hundred day simple moving average is $35.06.

Institutional Investors Weigh In On Surmodics

A number of institutional investors and hedge funds have recently bought and sold shares of SRDX. SG Americas Securities LLC raised 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 valued at $151,000 after buying an additional 660 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in 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 during the last quarter. Lazard Asset Management LLC lifted its stake in 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 during the last quarter. BNP Paribas Financial Markets increased its position in shares of Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after purchasing an additional 481 shares during the last quarter. Finally, Hardin Capital Partners LLC purchased a new position in shares of Surmodics during the 2nd quarter valued at about $206,000. 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).