Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Saturday. The firm issued a hold rating on the stock.

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

Surmodics Price Performance

SRDX opened at $39.56 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The company has a market cap of $566.89 million, a price-to-earnings ratio of -48.84 and a beta of 1.20. The stock has a fifty day simple moving average of $38.50 and a two-hundred day simple moving average of $39.53. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) 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 3.79%. The company had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $30.69 million. Research analysts predict that Surmodics will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of Surmodics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Surmodics by 0.7% during 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Surmodics by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after purchasing an additional 28,990 shares during the period. State Street Corp increased its holdings in Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after buying an additional 60,240 shares during the period. Gabelli Funds LLC increased its holdings in Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the period. Finally, Gardner Lewis Asset Management L P purchased a new stake in Surmodics during the second quarter worth $8,531,000. Hedge funds and other 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).