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

by · The Markets Daily

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX – Get Free Report) in a research note issued to investors on Sunday. The firm set a “hold” rating on the stock.

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

Get Our Latest Analysis on SRDX

Surmodics Trading Down 0.4 %

Shares of Surmodics stock opened at $38.26 on Friday. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The firm has a market cap of $545.59 million, a PE ratio of 40.27 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 company has a 50 day simple moving average of $39.65 and a two-hundred day simple moving average of $37.03.

Surmodics (NASDAQ:SRDX – Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.04. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Analysts expect that Surmodics will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its stake in shares of Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares during the period. Lazard Asset Management LLC increased its stake in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after buying an additional 673 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after buying an additional 481 shares during the period. Hardin Capital Partners LLC purchased a new position in shares of Surmodics in the second quarter worth $206,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Surmodics in the first quarter worth $223,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

About Surmodics

(Get Free Report)

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).

Recommended Stories