Surmodics (NASDAQ:SRDX) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Surmodics (NASDAQ:SRDX) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

Separately, Needham & Company LLC reissued a buy rating and set a $47.00 target price on shares of Surmodics in a research report on Wednesday, April 10th.

Surmodics Stock Performance

SRDX opened at $26.39 on Tuesday. The company has a market cap of $375.79 million, a price-to-earnings ratio of 69.45 and a beta of 1.01. The company’s fifty day moving average price is $29.54 and its two-hundred day moving average price is $31.88. Surmodics has a 1-year low of $16.79 and a 1-year high of $39.41. The company has a current ratio of 4.84, a quick ratio of 3.97 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Surmodics

Several hedge funds and other institutional investors have recently made changes to their positions in SRDX. Legal & General Group Plc grew its position in Surmodics by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 34,615 shares of the company’s stock worth $1,289,000 after purchasing an additional 302 shares in the last quarter. Yousif Capital Management LLC grew its position in Surmodics by 2.4% in the 1st quarter. Yousif Capital Management LLC now owns 12,777 shares of the company’s stock worth $579,000 after purchasing an additional 305 shares in the last quarter. Rhumbline Advisers grew its position in Surmodics by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 37,138 shares of the company’s stock worth $1,383,000 after purchasing an additional 312 shares in the last quarter. Franklin Resources Inc. grew its position in Surmodics by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 7,174 shares of the company’s stock worth $261,000 after purchasing an additional 317 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Surmodics by 0.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 76,900 shares of the company’s stock worth $2,408,000 after purchasing an additional 400 shares in the last quarter. 96.63% of the stock is owned by institutional investors.

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).