Surmodics (NASDAQ:SRDX) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Surmodics, Inc. (NASDAQ:SRDX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $38.60 and traded as high as $38.85. Surmodics shares last traded at $38.49, with a volume of 249,621 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research report on Monday, August 5th. StockNews.com started coverage on shares of Surmodics in a report on Thursday. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Up 2.2 %

The firm has a market cap of $549.25 million, a price-to-earnings ratio of -384.90 and a beta of 1.20. The stock has a 50-day moving average of $38.64 and a 200-day moving average of $38.60. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Surmodics

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Surmodics by 14.7% during 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 period. Lazard Asset Management LLC boosted its position in Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares during the period. BNP Paribas Financial Markets grew its stake in shares of 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 acquired a new position in shares of Surmodics during the second quarter valued at $206,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Surmodics during the second quarter valued at about $229,000. Institutional investors own 96.63% of the company’s stock.

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).