Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report report published on Tuesday morning. The firm issued a hold rating on the stock.

A number of other equities analysts also recently weighed in on the stock. 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. Barrington Research restated a market perform rating on shares of Surmodics in a report on Thursday, May 30th. Needham & Company LLC restated a hold rating 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 investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $50.00.

Surmodics Price Performance

NASDAQ SRDX opened at $41.98 on Tuesday. The company has a quick ratio of 3.59, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.36. The company has a market capitalization of $598.63 million, a PE ratio of 44.19 and a beta of 1.18. The firm’s 50 day moving average is $37.65 and its 200-day moving average is $33.58.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The company had revenue of $31.96 million for the quarter, compared to the consensus estimate of $28.79 million. During the same period last year, the company earned ($0.40) earnings per share. Equities research analysts anticipate that Surmodics will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surmodics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its stake in shares of Surmodics by 97.2% in the fourth quarter. Strs Ohio now owns 7,100 shares of the company’s stock valued at $258,000 after acquiring an additional 3,500 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Surmodics by 109.8% in the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock valued at $1,624,000 after acquiring an additional 23,379 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after acquiring an additional 620 shares in the last quarter. US Bancorp DE grew its stake in shares of Surmodics by 61.9% in the fourth quarter. US Bancorp DE now owns 16,190 shares of the company’s stock valued at $589,000 after acquiring an additional 6,193 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Surmodics in the fourth quarter valued at about $504,000. 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).