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

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report released on Tuesday. The brokerage issued a hold rating on the stock.

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

Surmodics Stock Performance

NASDAQ SRDX opened at $38.28 on Tuesday. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The stock has a market cap of $545.87 million, a P/E ratio of 40.29 and a beta of 1.20. The company’s 50-day simple moving average is $39.09 and its 200 day simple moving average is $37.77.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating 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 company had revenue of $30.34 million for the quarter, compared to analyst estimates of $30.32 million. As a group, research analysts forecast that Surmodics will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after purchasing an additional 660 shares in the last quarter. Lazard Asset Management LLC lifted 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 worth $166,000 after buying an additional 673 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after buying an additional 481 shares in the last quarter. Hardin Capital Partners LLC bought a new stake in Surmodics during the 2nd quarter worth about $206,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Surmodics in the 1st quarter valued at about $223,000. 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).