Surmodics (NASDAQ:SRDX) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note published on Monday. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

NASDAQ SRDX opened at $38.38 on Monday. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $39.20 and its two-hundred day moving average is $37.47. The stock has a market capitalization of $547.68 million, a price-to-earnings ratio of -383.80 and a beta of 1.20. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44.

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

Institutional Trading of Surmodics

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after acquiring an additional 673 shares in the last quarter. BNP Paribas Financial Markets raised its position in Surmodics by 7.5% during the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after acquiring an additional 481 shares during the last quarter. Hardin Capital Partners LLC purchased a new stake in shares of Surmodics in the second quarter valued at about $206,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Surmodics in the first quarter valued at approximately $223,000. Institutional investors and hedge funds 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).