Feltl & Co. Upgrades SurModics to Strong-Buy (SRDX)

SurModics (NASDAQ:SRDX) was upgraded by equities research analysts at Feltl & Co. from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $31.25 target price on the stock. Feltl & Co.’s target price suggests a potential upside of 54.40% from the company’s current price. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of SurModics in a research note to investors on Wednesday, June 26th. They now have a $21.00 price target on the stock. Separately, analysts at Sidoti upgraded shares of SurModics from a “neutral” rating to a “buy” rating in a research note to investors on Monday, June 17th.

Shares of SurModics (NASDAQ:SRDX) traded up 9.26% during mid-day trading on Thursday, hitting $22.115. SurModics has a 52 week low of $16.60 and a 52 week high of $27.98. The stock’s 50-day moving average is currently $21.30. The company has a market cap of $320.7 million and a P/E ratio of 22.82.

SurModics (NASDAQ:SRDX) last released its earnings data on Wednesday, July 31st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $14.29 million for the quarter, compared to the consensus estimate of $15.03 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that SurModics will post $0.94 earnings per share for the current fiscal year.

SurModics, Inc (NASDAQ:SRDX) is a provider of drug delivery and surface modification technologies to the healthcare industry.