Surmodics (NASDAQ:SRDX) Shares Gap Down to $41.04

Shares of Surmodics, Inc. (NASDAQ:SRDX) gapped down before the market opened on Tuesday . The stock had previously closed at $41.04, but opened at $40.18. Surmodics shares last traded at $40.22, with a volume of 146,519 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SRDX shares. Lake Street Capital reissued a “hold” rating and issued a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. StockNews.com began coverage on shares of Surmodics in a report on Sunday. They set a “hold” rating on the stock. Barrington Research reiterated a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Finally, Sidoti reissued a “neutral” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

The stock has a fifty day simple moving average of $41.78 and a two-hundred day simple moving average of $34.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The stock has a market cap of $572.94 million, a price-to-earnings ratio of 42.37 and a beta of 1.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Surmodics in the 4th quarter valued at approximately $163,000. Hillsdale Investment Management Inc. boosted its position in Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after buying an additional 620 shares in the last quarter. Hardin Capital Partners LLC bought a new stake in shares of Surmodics during the second quarter worth $206,000. Lazard Asset Management LLC boosted 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 valued at $166,000 after acquiring an additional 673 shares in the last quarter. Finally, Bailard Inc. bought a new stake in Surmodics during the 2nd quarter worth $257,000. Institutional investors 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).