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

Investment analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a note issued to investors on Monday. The firm set a “hold” rating on the stock.

Other equities research analysts have also issued research reports about the company. Lake Street Capital reaffirmed a “hold” rating and set a $43.00 price target on shares of Surmodics in a research report on Wednesday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Wednesday, May 29th. Barrington Research reiterated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Finally, Sidoti reiterated a “neutral” rating and set a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

NASDAQ SRDX opened at $41.95 on Monday. The firm has a market cap of $598.21 million, a P/E ratio of 44.16 and a beta of 1.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59. The stock’s 50-day moving average is $34.84 and its 200-day moving average is $33.16. Surmodics has a one year low of $25.17 and a one year high of $42.36.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SRDX. SG Americas Securities LLC grew its stake in Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares in the last quarter. Lazard Asset Management LLC grew its stake in Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after purchasing an additional 481 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new position in Surmodics in the first quarter valued at approximately $223,000. 96.63% of the stock is currently owned by 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).