Surmodics (NASDAQ:SRDX) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

Several other analysts also recently weighed in on the company. Sidoti reissued a “neutral” rating and issued a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Barrington Research reissued a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Finally, Lake Street Capital reissued a “hold” rating and issued a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Down 0.4 %

Shares of NASDAQ SRDX opened at $39.26 on Friday. The company has a market capitalization of $559.85 million, a price-to-earnings ratio of 41.33 and a beta of 1.20. 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 business has a 50-day moving average of $40.34 and a two-hundred day moving average of $36.23. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its 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 during the quarter, compared to the consensus estimate of $30.32 million. On average, analysts forecast that Surmodics will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Surmodics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRDX. Gabelli Funds LLC raised its stake in Surmodics by 393.7% during the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after acquiring an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Surmodics during the 2nd quarter valued at approximately $8,531,000. Nisa Investment Advisors LLC raised 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 valued at $2,877,000 after acquiring an additional 67,010 shares during the last quarter. Versor Investments LP acquired a new position in Surmodics during the 2nd quarter worth approximately $2,723,000. Finally, Sagefield Capital LP acquired a new position in Surmodics during the 2nd quarter worth approximately $2,350,000. 96.63% of the stock is owned by hedge funds and other 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).