Surmodics (NASDAQ:SRDX) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Surmodics (NASDAQ:SRDX) in a report released on Thursday morning,Benzinga reports.

Separately, StockNews.com initiated coverage on shares of Surmodics in a report on Thursday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Surmodics currently has an average rating of “Hold” and an average target price of $50.00.

Surmodics Trading Up 0.2 %

Shares of NASDAQ:SRDX traded up $0.06 on Thursday, hitting $38.46. The company had a trading volume of 118,959 shares, compared to its average volume of 230,828. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The firm has a market capitalization of $548.82 million, a price-to-earnings ratio of -47.41 and a beta of 1.20. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $38.60 and its two-hundred day simple moving average is $38.60.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SRDX. Acadian Asset Management LLC boosted its stake in shares of Surmodics by 11.3% in the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after purchasing an additional 41,617 shares during the period. Renaissance Technologies LLC lifted its stake in Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after buying an additional 28,990 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new position in shares of Surmodics in the 2nd quarter valued at approximately $8,531,000. Sagefield Capital LP purchased a new stake in shares of Surmodics in the second quarter valued at about $2,350,000. Finally, Trium Capital LLP purchased a new position in Surmodics in the second quarter worth $1,406,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

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).