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

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

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

Surmodics Trading Down 0.3 %

Shares of NASDAQ:SRDX opened at $41.44 on Friday. The business has a 50-day moving average price of $40.94 and a 200-day moving average price of $34.25. The stock has a market cap of $590.93 million, a price-to-earnings ratio of 43.62 and a beta of 1.18. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a quick ratio of 3.59, a current ratio of 4.39 and a debt-to-equity ratio of 0.24.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.36) by $0.43. The firm had revenue of $31.96 million for the quarter, compared to analyst estimates of $28.79 million. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. During the same period last year, the company earned ($0.40) earnings per share. Equities analysts predict that Surmodics will post -0.51 EPS for the current year.

Institutional Trading of Surmodics

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after acquiring an additional 481 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Surmodics by 15.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of 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 during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares during the period. Finally, Strs Ohio increased its position in shares of Surmodics by 97.2% during the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after purchasing an additional 3,500 shares during the last quarter. 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).