Surmodics (NASDAQ:SRDX) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Sunday morning. The brokerage issued a hold rating on the stock.

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

Surmodics Trading Down 0.2 %

NASDAQ:SRDX opened at $38.20 on Friday. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The stock has a market cap of $544.73 million, a price-to-earnings ratio of 40.21 and a beta of 1.20. The business has a fifty day moving average of $39.58 and a 200-day moving average of $37.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results 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. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. The company had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $30.32 million. Equities analysts predict that Surmodics will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Surmodics by 0.7% during the first 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. Renaissance Technologies LLC boosted its stake in Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after buying an additional 28,990 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Surmodics by 11.3% in the 1st quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after purchasing an additional 41,617 shares during the period. Gabelli Funds LLC boosted its position in shares of Surmodics by 393.7% in the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after purchasing an additional 207,500 shares during the period. Finally, Gardner Lewis Asset Management L P acquired a new position in shares of Surmodics in the 2nd quarter valued at $8,531,000. 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).