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

Equities researchers at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Saturday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of Surmodics stock opened at $38.49 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44. The firm’s 50 day moving average is $40.03 and its two-hundred day moving average is $36.60. The firm has a market capitalization of $548.87 million, a P/E ratio of 40.52 and a beta of 1.20.

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

Institutional Investors Weigh In On Surmodics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC raised its position in shares of Surmodics by 393.7% in the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the second quarter valued at approximately $8,531,000. Nisa Investment Advisors LLC raised its stake in Surmodics by 4,722.3% during the second quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after purchasing an additional 67,010 shares during the period. Versor Investments LP purchased a new position in Surmodics during the second quarter worth approximately $2,723,000. Finally, Sagefield Capital LP acquired a new position in shares of Surmodics in the 2nd quarter valued at $2,350,000. Hedge funds and other 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).