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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report published on Tuesday morning. The brokerage issued a hold rating on the stock.

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

Surmodics Stock Up 0.0 %

Shares of SRDX stock opened at $41.98 on Tuesday. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.36. The stock’s fifty day moving average price is $37.65 and its 200 day moving average price is $33.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59. The company has a market cap of $598.63 million, a price-to-earnings ratio of 44.19 and a beta of 1.18.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $28.79 million. During the same period in the previous year, the business earned ($0.40) EPS. On average, research analysts expect that Surmodics will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surmodics

Large investors have recently bought and sold shares of the business. Strs Ohio raised its holdings in Surmodics by 97.2% in the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after purchasing an additional 3,500 shares during the period. Panagora Asset Management Inc. raised its holdings in Surmodics by 109.8% in the 4th quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after purchasing an additional 23,379 shares during the period. Hillsdale Investment Management Inc. raised its holdings 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 valued at $166,000 after acquiring an additional 620 shares during the last quarter. US Bancorp DE raised its holdings in shares of Surmodics by 61.9% during the fourth quarter. US Bancorp DE now owns 16,190 shares of the company’s stock valued at $589,000 after acquiring an additional 6,193 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Surmodics during the fourth quarter valued at approximately $504,000. Institutional investors and hedge funds 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).