Surmodics (NASDAQ:SRDX) Rating Increased to Strong-Buy at StockNews.com

Surmodics (NASDAQ:SRDX) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Separately, Needham & Company LLC restated a “buy” rating and issued a $47.00 target price on shares of Surmodics in a report on Wednesday, April 10th.

Surmodics Stock Performance

Surmodics stock opened at $26.52 on Tuesday. The business has a 50 day moving average of $29.65 and a 200-day moving average of $31.92. The company has a market capitalization of $377.54 million, a P/E ratio of 69.79 and a beta of 1.01. Surmodics has a 1 year low of $16.79 and a 1 year high of $39.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.84 and a quick ratio of 3.97.

Hedge Funds Weigh In On Surmodics

Several institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in shares of Surmodics in the fourth quarter valued at $504,000. Vanguard Group Inc. raised its stake in Surmodics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 859,287 shares of the company’s stock valued at $31,235,000 after acquiring an additional 13,123 shares during the period. Barclays PLC raised its stake in Surmodics by 682.3% in the 4th quarter. Barclays PLC now owns 18,909 shares of the company’s stock valued at $687,000 after acquiring an additional 16,492 shares during the period. Voya Investment Management LLC purchased a new stake in Surmodics during the fourth quarter valued at about $204,000. Finally, Royal Bank of Canada boosted its position in Surmodics by 5.6% during the fourth quarter. Royal Bank of Canada now owns 60,931 shares of the company’s stock worth $2,215,000 after purchasing an additional 3,257 shares during the period. Institutional investors own 96.63% of the company’s stock.

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).