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

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

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

Surmodics Stock Down 0.8 %

Surmodics stock opened at $37.51 on Wednesday. The firm’s 50 day moving average price is $38.86 and its two-hundred day moving average price is $38.21. The firm has a market cap of $535.27 million, a PE ratio of -375.10 and a beta of 1.20. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. 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 announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. On average, research analysts predict that Surmodics will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after buying an additional 481 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Surmodics by 14.7% in 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 last quarter. Vanguard Group Inc. boosted its position in Surmodics by 0.7% during the first quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock worth $25,385,000 after purchasing an additional 5,927 shares during the period. Acadian Asset Management LLC grew its holdings in Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after purchasing an additional 41,617 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Surmodics in the first quarter valued at approximately $1,270,000. 96.63% of the stock is currently owned by institutional investors.

About Surmodics

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).