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

Stock analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Wednesday. The firm set 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 investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Surmodics presently has an average rating of “Hold” and an average target price of $50.00.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $37.51 on Wednesday. The company has a market cap of $535.27 million, a price-to-earnings ratio of -375.10 and a beta of 1.20. The business has a 50 day moving average price of $38.86 and a 200 day moving average price of $38.21. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44.

Surmodics (NASDAQ:SRDX) last issued 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 company had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. Research analysts predict that Surmodics will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC increased 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 valued at $151,000 after buying an additional 660 shares during the period. Lazard Asset Management LLC increased its stake in Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after acquiring an additional 673 shares during the period. BNP Paribas Financial Markets raised 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 worth $202,000 after purchasing an additional 481 shares in the last quarter. Hardin Capital Partners LLC bought a new position in Surmodics during the second quarter worth about $206,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Surmodics during the second quarter valued at approximately $229,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).