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

Research analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a note issued to investors on Friday. The firm set a “hold” rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.00.

Surmodics Trading Down 0.2 %

NASDAQ:SRDX opened at $38.09 on Friday. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $543.54 million, a price-to-earnings ratio of -47.02 and a beta of 1.20. The firm has a fifty day simple moving average of $38.51 and a two-hundred day simple moving average of $39.02.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.77% and a negative net margin of 9.15%. The company had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Analysts expect that Surmodics will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Surmodics

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in shares of Surmodics by 11.3% in the first 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. Renaissance Technologies LLC grew its holdings in Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after buying an additional 28,990 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the 2nd quarter valued at $8,531,000. Sagefield Capital LP bought a new position in Surmodics during the 2nd quarter valued at $2,350,000. Finally, Trium Capital LLP purchased a new position in Surmodics during the 2nd quarter worth $1,406,000. 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).