Surmodics (NASDAQ:SRDX) Given Hold Rating at Needham & Company LLC

Surmodics (NASDAQ:SRDX)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports.

A number of other equities research analysts have also recently commented on SRDX. Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. StockNews.com began coverage on shares of Surmodics in a research note on Saturday. They issued a “hold” rating for the company. Lake Street Capital reiterated a “hold” rating and issued a $43.00 price objective on shares of Surmodics in a research note on Wednesday, May 29th. Finally, Sidoti reiterated a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a research note on Wednesday, May 29th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Surmodics currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of NASDAQ:SRDX traded down $0.29 during mid-day trading on Monday, reaching $40.95. The company had a trading volume of 129,284 shares, compared to its average volume of 200,914. The company has a current ratio of 3.98, a quick ratio of 3.59 and a debt-to-equity ratio of 0.25. The firm has a market cap of $584.36 million, a price-to-earnings ratio of 43.12 and a beta of 1.18. The company’s 50-day moving average price is $41.60 and its 200-day moving average price is $34.52. Surmodics has a one year low of $25.17 and a one year high of $42.44.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Surmodics by 7.5% during the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after buying an additional 481 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings 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 valued at $166,000 after buying an additional 620 shares during the last quarter. SG Americas Securities LLC grew 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 buying an additional 660 shares during the last quarter. Lazard Asset Management LLC lifted its position in Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares during the period. Finally, Rhumbline Advisers lifted its position in Surmodics by 13.3% during the second quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after purchasing an additional 2,463 shares during the period. 96.63% of the stock is currently 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).