Stock analysts at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX – Get Free Report) in a report issued on Saturday. The brokerage set a “hold” rating on the stock.
Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has an average rating of “Hold” and an average target price of $50.00.
Read Our Latest Report on SRDX
Surmodics Stock Up 0.1 %
Surmodics (NASDAQ:SRDX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. Sell-side analysts forecast that Surmodics will post -0.47 earnings per share for the current year.
Institutional Investors Weigh In On Surmodics
A number of institutional investors have recently added to or reduced their stakes in SRDX. Gabelli Funds LLC boosted its holdings in Surmodics by 393.7% in the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock worth $10,939,000 after buying an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the second quarter valued at approximately $8,531,000. Nisa Investment Advisors LLC lifted its stake in Surmodics by 4,722.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after acquiring an additional 67,010 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Surmodics during the second quarter worth about $2,723,000. Finally, Sagefield Capital LP purchased a new position in Surmodics in the 2nd quarter valued at approximately $2,350,000. 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).
Featured Articles
- Five stocks we like better than Surmodics
- How to Invest in Small Cap StocksĀ
- Can Costco Stock Hit New Highs as Interest Rates Drop?
- Most Volatile Stocks, What Investors Need to Know
- These 3 Stocks Show How to Navigate Declining Consumer Confidence
- Why is the Ex-Dividend Date Significant to Investors?
- MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy?
Receive News & Ratings for Surmodics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surmodics and related companies with MarketBeat.com's FREE daily email newsletter.