Investment analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX – Get Free Report) in a report released on Tuesday. The firm set a “hold” rating on the stock.
Several other analysts have also recently issued reports on the stock. Barrington Research reissued a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Lake Street Capital restated a “hold” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Finally, Sidoti restated a “neutral” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.00.
View Our Latest Stock Analysis on SRDX
Surmodics Stock Down 0.4 %
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Water Island Capital LLC purchased a new position in Surmodics during the 2nd quarter worth approximately $1,160,000. Algert Global LLC purchased a new position in shares of Surmodics during the 2nd quarter valued at $577,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Surmodics during the 2nd quarter valued at $273,000. Mackenzie Financial Corp purchased a new position in shares of Surmodics during the 2nd quarter valued at $267,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Surmodics during the 2nd quarter valued at $229,000. 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).
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