Surmodics (NASDAQ:SRDX) Receives New Coverage from Analysts at StockNews.com

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

Other equities research analysts have also recently issued research reports about the company. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Lake Street Capital reiterated a “hold” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Finally, Sidoti reiterated a “neutral” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics has an average rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

SRDX opened at $39.26 on Friday. The stock has a market cap of $559.85 million, a P/E ratio of 41.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The stock’s 50 day simple moving average is $40.34 and its 200 day simple moving average is $36.23. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.04. The business had revenue of $30.34 million for the quarter, compared to analysts’ expectations of $30.32 million. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. As a group, equities analysts anticipate that Surmodics will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised 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 worth $202,000 after buying an additional 481 shares during the period. SG Americas Securities LLC increased its holdings in 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 in the last quarter. Lazard Asset Management LLC increased its holdings in 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 in the last quarter. Los Angeles Capital Management LLC increased its holdings in Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after purchasing an additional 1,221 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Surmodics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after purchasing an additional 2,463 shares in the last quarter. Hedge funds and other 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).