Surmodics (NASDAQ:SRDX) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Monday. 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 research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

SRDX stock opened at $38.55 on Monday. The stock has a market cap of $549.72 million, a PE ratio of 40.58 and a beta of 1.20. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a 50-day moving average price of $39.31 and a 200 day moving average price of $37.45. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) 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 business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Equities research analysts anticipate that Surmodics will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Surmodics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock worth $25,385,000 after buying an additional 5,927 shares during the period. Renaissance Technologies LLC lifted its stake in Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after acquiring an additional 28,990 shares during the period. Acadian Asset Management LLC grew its holdings in Surmodics by 11.3% during the 1st quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after acquiring an additional 41,617 shares in the last quarter. Gabelli Funds LLC increased its position in Surmodics by 393.7% during the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after purchasing an additional 207,500 shares during the period. Finally, Gardner Lewis Asset Management L P purchased a new position in Surmodics during the 2nd quarter valued at about $8,531,000. 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).