Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

Shares of SRDX opened at $38.49 on Friday. The firm has a market cap of $548.87 million, a price-to-earnings ratio of 40.52 and a beta of 1.20. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $40.03 and its two-hundred day moving average is $36.60. Surmodics has a 52-week low of $25.17 and a 52-week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. Analysts forecast that Surmodics will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Surmodics

A number of large investors have recently bought and sold shares of SRDX. Vanguard Group Inc. raised 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 purchasing an additional 5,927 shares during the period. Renaissance Technologies LLC increased its position 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 buying an additional 28,990 shares during the period. Acadian Asset Management LLC lifted its stake in Surmodics by 11.3% in the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after buying an additional 41,617 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of 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 acquiring an additional 207,500 shares during the period. Finally, Gardner Lewis Asset Management L P acquired a new position in shares of Surmodics during the second quarter valued at $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).