Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

Shares of Surmodics stock opened at $39.33 on Friday. The business’s fifty day simple moving average is $38.49 and its 200 day simple moving average is $39.37. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The firm has a market capitalization of $561.24 million, a P/E ratio of -48.55 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.14. The firm had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. Surmodics had a negative return on equity of 3.77% and a negative net margin of 9.15%. As a group, analysts anticipate that Surmodics will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Surmodics

Several large investors have recently added to or reduced their stakes in SRDX. SG Americas Securities LLC lifted its holdings in Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares during the last quarter. Vanguard Group Inc. lifted 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 in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Surmodics by 4,722.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after buying an additional 67,010 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Surmodics by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock valued at $2,464,000 after buying an additional 8,220 shares in the last quarter. Hedge funds and other institutional investors 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).