Needham & Company LLC Reiterates Hold Rating for Surmodics (NASDAQ:SRDX)

Surmodics (NASDAQ:SRDX)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Separately, StockNews.com started coverage on Surmodics in a research report on Thursday. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Trading Up 2.2 %

SRDX opened at $38.49 on Thursday. The business has a fifty day moving average price of $38.62 and a 200 day moving average price of $38.60. The stock has a market capitalization of $549.14 million, a price-to-earnings ratio of -384.90 and a beta of 1.20. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22.

Institutional Trading of Surmodics

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares during the period. Lazard Asset Management LLC boosted its position 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 valued at $166,000 after purchasing an additional 673 shares during the period. BNP Paribas Financial Markets boosted its position 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 valued at $202,000 after purchasing an additional 481 shares during the period. Hardin Capital Partners LLC purchased a new stake in Surmodics during the 2nd quarter valued at approximately $206,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Surmodics during the 2nd quarter valued at approximately $229,000. 96.63% of the stock is owned by institutional investors and hedge funds.

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).