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

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

Other analysts have also recently issued research reports about the stock. Sidoti reiterated a neutral rating and set a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. Needham & Company LLC restated a hold rating on shares of Surmodics in a research note on Monday, August 5th. Lake Street Capital reaffirmed a hold rating and issued a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Finally, Barrington Research reaffirmed a market perform rating on shares of Surmodics in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Surmodics has a consensus rating of Hold and a consensus target price of $50.00.

Surmodics Trading Down 0.4 %

Surmodics stock opened at $39.26 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The business’s 50-day simple moving average is $40.34 and its 200-day simple moving average is $36.28. The firm has a market capitalization of $559.85 million, a PE ratio of 41.33 and a beta of 1.20. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $30.32 million. Equities research analysts forecast that Surmodics will post -0.47 earnings per share for the current year.

Institutional Trading of Surmodics

Hedge funds have recently added to or reduced their stakes in the stock. Water Island Capital LLC bought a new stake in Surmodics in the second quarter valued at $1,160,000. Algert Global LLC purchased a new position in Surmodics during the second quarter worth about $577,000. Susquehanna Fundamental Investments LLC purchased a new position in Surmodics during the second quarter worth about $273,000. Mackenzie Financial Corp purchased a new position in Surmodics during the second quarter worth about $267,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Surmodics in the second quarter worth about $229,000. Institutional investors and hedge funds 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).