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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued on Saturday. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Price Performance

Shares of SRDX opened at $39.58 on Friday. The firm’s 50-day simple moving average is $38.50 and its two-hundred day simple moving average is $39.53. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The stock has a market cap of $567.18 million, a PE ratio of -48.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The company had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. Analysts anticipate that Surmodics will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of Surmodics

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Surmodics by 0.7% in the first 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 during the last quarter. Renaissance Technologies LLC grew its position in Surmodics by 5.0% during 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 period. State Street Corp grew its position in Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after buying an additional 60,240 shares during the period. Gabelli Funds LLC increased its holdings in Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Finally, Gardner Lewis Asset Management L P bought a new position in Surmodics in the second quarter worth approximately $8,531,000. Hedge funds and other institutional investors 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).