StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

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

Several other analysts also recently commented on the stock. Barrington Research reissued a market perform rating on shares of Surmodics in a research report on Thursday, May 30th. Needham & Company LLC restated a hold rating on shares of Surmodics in a research report on Monday, August 5th. Sidoti reiterated a neutral rating and issued a $43.00 price target on shares of Surmodics in a research report on Wednesday, May 29th. Finally, Lake Street Capital reissued a hold rating and issued a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $50.00.

Surmodics Price Performance

Shares of Surmodics stock opened at $39.26 on Friday. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44. The stock has a market capitalization of $559.85 million, a price-to-earnings ratio of 41.33 and a beta of 1.20. The company has a fifty day moving average of $40.34 and a 200-day moving average of $36.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.04. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Equities research analysts expect that Surmodics will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Surmodics

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake 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 purchasing an additional 660 shares during the period. Lazard Asset Management LLC grew its stake 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. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 481 shares during the period. Hardin Capital Partners LLC acquired a new stake in shares of Surmodics during the 2nd quarter worth approximately $206,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Surmodics in the 1st quarter valued at $223,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

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).