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

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

Other equities research analysts have also recently issued reports about the company. Barrington Research reiterated a market perform rating on shares of Surmodics in a research note on Thursday, May 30th. Lake Street Capital reiterated a hold rating and issued a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Needham & Company LLC reiterated a hold rating on shares of Surmodics in a research note on Monday, August 5th. Finally, Sidoti reiterated a neutral rating and issued a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Surmodics currently has a consensus rating of Hold and a consensus target price of $50.00.

Surmodics Trading Down 1.0 %

Shares of NASDAQ SRDX opened at $38.81 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The stock has a market capitalization of $553.82 million, a P/E ratio of 40.85 and a beta of 1.20. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44. The business has a fifty day moving average price of $41.01 and a 200 day moving average price of $35.62.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. raised its stake in shares of Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after purchasing an additional 620 shares during the last quarter. Hardin Capital Partners LLC purchased a new position in shares of Surmodics in the second quarter worth about $206,000. SG Americas Securities LLC raised its stake in shares of 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 during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Surmodics in the second quarter worth about $229,000. Finally, Lazard Asset Management LLC raised its stake in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares during the last quarter. 96.63% of the stock is currently owned by hedge funds and other 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).