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

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

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

Surmodics Price Performance

Shares of Surmodics stock opened at $42.17 on Wednesday. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The company has a market cap of $601.34 million, a P/E ratio of 44.39 and a beta of 1.18. The company has a current ratio of 4.39, a quick ratio of 3.59 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $39.15 and a 200 day moving average price of $33.81.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.43. The company had revenue of $31.96 million for the quarter, compared to the consensus estimate of $28.79 million. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. During the same quarter in the prior year, the company earned ($0.40) EPS. As a group, analysts expect that Surmodics will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Surmodics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRDX. SG Americas Securities LLC boosted its holdings in shares of Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares during the period. Hillsdale Investment Management Inc. lifted its position in Surmodics by 15.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after acquiring an additional 620 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after acquiring an additional 673 shares during the period. BNP Paribas Financial Markets grew its position in shares of Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after purchasing an additional 481 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Surmodics in the first quarter worth about $223,000. Institutional investors and hedge funds 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).