Surmodics (NASDAQ:SRDX) Reaches New 52-Week High at $42.44

Surmodics, Inc. (NASDAQ:SRDX)’s share price hit a new 52-week high on Tuesday . The company traded as high as $42.44 and last traded at $42.25, with a volume of 79533 shares. The stock had previously closed at $42.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Wednesday, May 29th. Sidoti reiterated a “neutral” rating and set a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. Lake Street Capital reiterated a “hold” rating and set a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. Barrington Research reiterated a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Finally, StockNews.com initiated coverage on shares of Surmodics in a research note on Wednesday. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.59 and a current ratio of 4.39. The firm has a market cap of $600.35 million, a price-to-earnings ratio of 44.32 and a beta of 1.18. The business’s 50-day moving average is $38.80 and its 200-day moving average is $33.72.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.43. The firm had revenue of $31.96 million during the quarter, compared to analysts’ expectations of $28.79 million. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. During the same quarter last year, the company posted ($0.40) EPS. On average, equities analysts predict that Surmodics, Inc. will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in shares of Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after purchasing an additional 481 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Surmodics by 15.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of 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 purchasing an additional 660 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Surmodics by 14.8% in the 4th quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock valued at $376,000 after purchasing an additional 1,331 shares during the last quarter. Institutional investors own 96.63% of the company’s stock.

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).