Surmodics (NASDAQ:SRDX) Sees Strong Trading Volume

Surmodics, Inc. (NASDAQ:SRDX) saw unusually-strong trading volume on Friday . Approximately 123,229 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 150,342 shares.The stock last traded at $41.95 and had previously closed at $41.97.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SRDX shares. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Wednesday, May 29th. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Lake Street Capital restated a “hold” rating and issued a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Sidoti reiterated a “neutral” rating and set a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Finally, StockNews.com began coverage on shares of Surmodics in a research note on Monday, June 24th. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics has an average rating of “Hold” and a consensus price target of $50.00.

Surmodics Price Performance

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 company has a market capitalization of $599.49 million, a PE ratio of 44.25 and a beta of 1.18. The stock’s 50 day simple moving average is $36.39 and its 200-day simple moving average is $33.43.

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

Hedge Funds Weigh In On Surmodics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Surmodics by 0.7% during the first 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. Acadian Asset Management LLC grew its position in shares of Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after buying an additional 41,617 shares in the last quarter. Salem Investment Counselors Inc. grew its position in shares of Surmodics by 1.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 129,940 shares of the company’s stock worth $4,723,000 after buying an additional 1,700 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Surmodics by 6.4% during the fourth quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock worth $2,466,000 after buying an additional 4,066 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Surmodics by 109.8% during the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after buying an additional 23,379 shares in the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

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).