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

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

A number of other research analysts have also issued reports on SRDX. Sidoti reiterated a “neutral” rating and issued a $43.00 price objective 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. 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Wednesday, May 29th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of Surmodics stock opened at $41.90 on Tuesday. The company’s 50 day moving average price is $36.72 and its two-hundred day moving average price is $33.44. The firm has a market capitalization of $597.49 million, a P/E ratio of 44.11 and a beta of 1.18. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The company 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) EPS. On average, equities analysts forecast that Surmodics will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

A number of institutional investors have recently modified their holdings of SRDX. SG Americas Securities LLC raised its stake in Surmodics by 14.7% during the first 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. Hillsdale Investment Management Inc. grew its holdings in Surmodics by 15.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after acquiring an additional 620 shares during the period. Lazard Asset Management LLC raised its position in shares of Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Surmodics by 7.5% in the 1st 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 during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Surmodics in the 1st quarter valued at about $223,000. 96.63% of the stock is owned by institutional investors.

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).