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

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Tuesday. The firm issued a hold rating on the stock.

Other equities analysts also recently issued research reports about the company. Barrington Research restated a market perform rating on shares of Surmodics in a report on Thursday, May 30th. Sidoti reissued a neutral rating and issued a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Lake Street Capital reissued a hold rating and issued a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Finally, Needham & Company LLC reissued a hold rating on shares of Surmodics in a research report on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $50.00.

Surmodics Price Performance

Shares of SRDX opened at $41.97 on Tuesday. The company has a market capitalization of $598.49 million, a price-to-earnings ratio of 44.18 and a beta of 1.18. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59. The business’s 50-day moving average is $37.02 and its 200-day moving average is $33.47.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The firm had revenue of $31.96 million for the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the prior year, the company posted ($0.40) earnings per share. Equities research analysts expect that Surmodics will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SRDX. Strs Ohio raised its stake in Surmodics by 97.2% during the fourth quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after acquiring an additional 3,500 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Surmodics by 109.8% during the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after buying an additional 23,379 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after buying an additional 620 shares during the last quarter. US Bancorp DE boosted its holdings in Surmodics by 61.9% during the fourth quarter. US Bancorp DE now owns 16,190 shares of the company’s stock worth $589,000 after buying an additional 6,193 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Surmodics during the 4th quarter valued at about $504,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).