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

StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX) in a research note released on Thursday. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC reiterated 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, According to MarketBeat, Surmodics has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Price Performance

Shares of Surmodics stock opened at $38.46 on Thursday. The stock has a market capitalization of $548.82 million, a P/E ratio of -47.48 and a beta of 1.20. Surmodics has a one year low of $25.17 and a one year high of $42.44. 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 business’s 50 day simple moving average is $38.57 and its two-hundred day simple moving average is $38.86.

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

Hedge Funds Weigh In On Surmodics

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake 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 in the last quarter. Renaissance Technologies LLC grew its stake in shares of Surmodics by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after acquiring an additional 28,990 shares during the period. Gardner Lewis Asset Management L P purchased a new stake in Surmodics in the 2nd quarter worth approximately $8,531,000. Sagefield Capital LP bought a new stake in Surmodics during the 2nd quarter worth approximately $2,350,000. Finally, Trium Capital LLP purchased a new position in Surmodics during the second quarter valued at approximately $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).