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

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

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Trading Up 1.7 %

Shares of Surmodics stock opened at $38.72 on Friday. The company’s 50-day moving average price is $38.50 and its 200-day moving average price is $39.21. The company has a market cap of $552.42 million, a price-to-earnings ratio of -47.80 and a beta of 1.20. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.77% and a negative net margin of 9.15%. The business had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. On average, equities analysts expect that Surmodics will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC grew its stake in Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after acquiring an additional 1,071 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics in the third quarter valued at approximately $67,000. Hardin Capital Partners LLC bought a new position in Surmodics in the second quarter worth approximately $206,000. 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 worth $151,000 after purchasing an additional 660 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Surmodics in the 2nd quarter worth $229,000. 96.63% of the stock is owned by 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).