Surmodics’ (SRDX) “Hold” Rating Reiterated at Needham & Company LLC

Surmodics (NASDAQ:SRDX)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports.

Other research analysts have also issued research reports about the stock. Lake Street Capital reaffirmed a “hold” rating and issued a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. Sidoti reiterated a “neutral” rating and set a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. StockNews.com initiated coverage on Surmodics in a research note on Saturday. They issued a “hold” rating on the stock. Finally, Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Trading Down 0.7 %

Surmodics stock traded down $0.29 during mid-day trading on Monday, hitting $40.95. The stock had a trading volume of 129,284 shares, compared to its average volume of 200,914. The stock has a 50-day simple moving average of $41.60 and a two-hundred day simple moving average of $34.52. The company has a current ratio of 3.98, a quick ratio of 3.59 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $584.36 million, a PE ratio of 43.12 and a beta of 1.18. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44.

Institutional Trading of Surmodics

Several hedge funds have recently added to or reduced their stakes in SRDX. SG Americas Securities LLC increased its holdings in shares of Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after acquiring an additional 660 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake 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 purchasing an additional 620 shares in the last quarter. Lazard Asset Management LLC increased its stake in 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 in the last quarter. BNP Paribas Financial Markets raised its holdings in Surmodics by 7.5% during 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. Finally, Mesirow Financial Investment Management Inc. bought a new position in Surmodics in the first quarter valued at approximately $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).