Surmodics (NASDAQ:SRDX) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note published on Friday morning. The brokerage issued a hold rating on the stock.

A number of other equities research analysts also recently issued reports on SRDX. Lake Street Capital restated a hold rating and set a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Sidoti restated a neutral rating and set a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Needham & Company LLC restated a hold rating on shares of Surmodics in a research note on Wednesday, May 29th. Finally, Barrington Research reiterated a market perform rating on shares of Surmodics in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $50.00.

Surmodics Price Performance

SRDX opened at $41.44 on Friday. The stock has a 50-day moving average price of $40.94 and a 200-day moving average price of $34.25. 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 firm has a market cap of $590.93 million, a PE ratio of 43.62 and a beta of 1.18. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $28.79 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. Sell-side analysts predict that Surmodics will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Surmodics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock worth $25,385,000 after purchasing an additional 5,927 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Surmodics by 11.3% during the 1st quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after acquiring an additional 41,617 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Surmodics by 4,722.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after acquiring an additional 67,010 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Surmodics by 6.4% during the 4th quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock worth $2,466,000 after acquiring an additional 4,066 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Surmodics by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock worth $2,464,000 after acquiring an additional 8,220 shares in the last quarter. 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).