StockNews.com Begins Coverage on Surmodics (NASDAQ:SRDX)

Research analysts at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued on Friday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics currently has an average rating of “Hold” and an average target price of $50.00.

Surmodics Trading Up 1.7 %

Surmodics stock opened at $38.72 on Friday. Surmodics has a one year low of $25.17 and a one year high of $42.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The stock has a market cap of $552.42 million, a PE ratio of -47.80 and a beta of 1.20. The stock has a 50-day moving average of $38.50 and a two-hundred day moving average of $39.21.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.77%. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. On average, research analysts anticipate that Surmodics will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after acquiring an additional 481 shares in the last quarter. SG Americas Securities LLC lifted its position in Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after buying an additional 673 shares during the last quarter. Quest Partners LLC grew its holdings in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock worth $1,531,000 after acquiring an additional 1,221 shares during the last quarter. Institutional investors and hedge funds 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).