StockNews.com Lowers Surmodics (NASDAQ:SRDX) to Buy

StockNews.com downgraded shares of Surmodics (NASDAQ:SRDX) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Separately, Needham & Company LLC restated a buy rating and set a $47.00 price target on shares of Surmodics in a research report on Wednesday, April 10th.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $26.17 on Wednesday. The stock has a market capitalization of $372.66 million, a price-to-earnings ratio of 68.87 and a beta of 1.01. Surmodics has a 1-year low of $16.79 and a 1-year high of $39.41. The company’s fifty day moving average is $28.77 and its two-hundred day moving average is $31.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84.

Hedge Funds Weigh In On Surmodics

Several institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. grew its position in shares of Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after acquiring an additional 620 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of Surmodics by 14.8% during the fourth quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock worth $376,000 after acquiring an additional 1,331 shares during the last quarter. Salem Investment Counselors Inc. grew its position in shares of Surmodics by 1.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 129,940 shares of the company’s stock worth $4,723,000 after acquiring an additional 1,700 shares during the last quarter. Strs Ohio grew its position in shares of Surmodics by 97.2% during the fourth quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Surmodics by 6.4% during the fourth quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock worth $2,466,000 after acquiring an additional 4,066 shares during the last quarter. Institutional investors own 96.63% of the company’s stock.

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).