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

Research analysts at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

Several other equities research analysts have also issued reports on the company. Sidoti reaffirmed a “neutral” rating and set a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. Barrington Research restated a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Lake Street Capital reiterated a “hold” rating and issued a $43.00 price objective on shares of Surmodics in a research note on Wednesday, May 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $39.40 on Friday. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a market cap of $562.24 million, a PE ratio of 41.47 and a beta of 1.20. The stock’s fifty day simple moving average is $40.45 and its two-hundred day simple moving average is $36.11. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $30.32 million. As a group, analysts forecast that Surmodics will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted 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 valued at $202,000 after purchasing an additional 481 shares during the last quarter. SG Americas Securities LLC increased its holdings in Surmodics by 14.7% during 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 period. Lazard Asset Management LLC raised its position in 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 purchasing an additional 673 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Surmodics by 3.5% during the second quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock valued at $1,531,000 after buying an additional 1,221 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Surmodics by 13.3% during the second quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after acquiring an additional 2,463 shares in the last quarter. 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).