Surmodics (NASDAQ:SRDX) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a report issued on Sunday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Price Performance

Shares of Surmodics stock opened at $38.42 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The business’s 50 day simple moving average is $39.71 and its two-hundred day simple moving average is $36.84. The stock has a market capitalization of $548.25 million, a P/E ratio of 40.44 and a beta of 1.20. Surmodics has a one year low of $25.17 and a one year high of $42.44.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SRDX. Gabelli Funds LLC raised its stake in Surmodics by 393.7% during 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 position in Surmodics during the second quarter valued at $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 valued at $2,877,000 after buying an additional 67,010 shares during the last quarter. Versor Investments LP purchased a new position in Surmodics during the second quarter valued at $2,723,000. Finally, Sagefield Capital LP purchased a new position in Surmodics during the second 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).