StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research report report published on Saturday. The firm issued a hold rating on the stock.

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

Surmodics Price Performance

Shares of SRDX opened at $39.33 on Friday. The company has a market capitalization of $563.44 million, a P/E ratio of -48.56 and a beta of 1.20. The business’s 50-day moving average is $38.49 and its two-hundred day moving average is $39.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Research analysts predict that Surmodics will post 0.17 earnings per share for the current year.

Institutional Trading of Surmodics

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after buying an additional 660 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Surmodics by 0.7% in the first quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after purchasing an additional 5,927 shares during the period. Lazard Asset Management LLC increased its stake in shares of Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Surmodics by 4,722.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after purchasing an additional 67,010 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Surmodics by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock valued at $2,464,000 after buying an additional 8,220 shares in the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

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).