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

Equities research analysts at StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research report issued 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 research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

NASDAQ SRDX opened at $38.09 on Friday. The firm’s fifty day moving average price is $38.51 and its two-hundred day moving average price is $39.02. The stock has a market cap of $543.54 million, a PE ratio of -47.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. On average, equities analysts expect that Surmodics will post 0.17 EPS for the current fiscal year.

Institutional Trading of Surmodics

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its holdings in Surmodics by 107,100.0% during the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Surmodics in the third quarter valued at $67,000. Hardin Capital Partners LLC bought a new stake in Surmodics during the second quarter valued at $206,000. SG Americas Securities LLC grew its holdings in Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after acquiring an additional 660 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Surmodics in the 2nd quarter worth about $229,000. 96.63% of the stock is currently owned by institutional investors.

About Surmodics

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).