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

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

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

Surmodics Stock Up 0.3 %

Shares of NASDAQ SRDX opened at $37.63 on Wednesday. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a 50-day simple moving average of $38.72 and a 200-day simple moving average of $38.28. 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 (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04. The firm had revenue of $30.34 million for the quarter, compared to analyst estimates of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. Sell-side analysts anticipate that Surmodics will post -0.47 earnings per share for the current year.

Institutional Trading of Surmodics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after acquiring an additional 481 shares during the period. SG Americas Securities LLC lifted its holdings in shares of 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 acquiring an additional 660 shares during the period. Vanguard Group Inc. boosted its stake in shares of Surmodics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after purchasing an additional 5,927 shares in the last quarter. Acadian Asset Management LLC grew its holdings 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 worth $11,988,000 after purchasing an additional 41,617 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Surmodics during the 1st quarter worth about $1,270,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).