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

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

Separately, Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics presently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

Surmodics stock opened at $38.28 on Tuesday. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The stock has a market cap of $545.87 million, a PE ratio of 40.21 and a beta of 1.20. The stock’s fifty day moving average is $39.06 and its two-hundred day moving average is $37.85.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.04. The company had revenue of $30.34 million for the quarter, compared to analyst estimates of $30.32 million. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. On average, sell-side analysts expect that Surmodics will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Surmodics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. acquired a new position in shares of Surmodics during the 1st quarter worth approximately $223,000. BNP Paribas Financial Markets grew its stake in shares of Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after buying an additional 481 shares during the period. SG Americas Securities LLC grew its stake in shares of Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after buying an additional 660 shares during the period. Vanguard Group Inc. grew its stake in shares of Surmodics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after buying an additional 5,927 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Surmodics by 11.3% during the 1st quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after buying an additional 41,617 shares during the period. 96.63% of the stock is currently 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).