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

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

A number of other analysts also recently issued reports on SRDX. Sidoti reaffirmed a neutral rating and set a $43.00 price target on shares of Surmodics in a report on Wednesday, May 29th. Needham & Company LLC restated a hold rating on shares of Surmodics in a research note on Wednesday, May 29th. 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. Finally, Barrington Research restated a market perform rating on shares of Surmodics in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $50.00.

Surmodics Stock Performance

NASDAQ:SRDX opened at $42.17 on Wednesday. The company has a market cap of $601.34 million, a P/E ratio of 44.39 and a beta of 1.18. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company’s 50-day moving average price is $39.15 and its 200-day moving average price is $33.81. The company has a current ratio of 4.39, a quick ratio of 3.59 and a debt-to-equity ratio of 0.24.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The firm had revenue of $31.96 million for the quarter, compared to the consensus estimate of $28.79 million. During the same quarter last year, the business posted ($0.40) earnings per share. On average, sell-side analysts forecast that Surmodics will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SRDX. Vanguard Group Inc. grew its position in Surmodics by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 846,164 shares of the company’s stock valued at $27,153,000 after buying an additional 19,635 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Surmodics by 14.8% during the fourth quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock worth $376,000 after acquiring an additional 1,331 shares during the period. SG Americas Securities LLC acquired a new stake in Surmodics in the fourth quarter valued at about $163,000. Salem Investment Counselors Inc. boosted its holdings in Surmodics by 1.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 129,940 shares of the company’s stock valued at $4,723,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Strs Ohio increased its position in Surmodics by 97.2% during the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after purchasing an additional 3,500 shares during the period. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

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).