Barrington Research Reaffirms Outperform Rating for Surmodics (NASDAQ:SRDX)

Barrington Research reissued their outperform rating on shares of Surmodics (NASDAQ:SRDX) in a research note published on Thursday, Benzinga reports. They currently have a $71.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reduced their price target on shares of Surmodics from $47.00 to $43.00 and set a buy rating for the company in a report on Wednesday. StockNews.com lowered shares of Surmodics from a strong-buy rating to a buy rating in a report on Wednesday, April 24th.

Surmodics Price Performance

Surmodics stock opened at $32.49 on Thursday. The stock has a market cap of $463.31 million, a price-to-earnings ratio of 34.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.97. Surmodics has a 1 year low of $16.79 and a 1 year high of $39.41. The firm has a 50-day moving average of $28.63 and a two-hundred day moving average of $31.67.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.36) by $0.43. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The business had revenue of $31.96 million during the quarter, compared to analyst estimates of $28.79 million. During the same quarter in the previous year, the business posted ($0.40) EPS. On average, research analysts forecast that Surmodics will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SRDX. Acadian Asset Management LLC raised its stake in shares of Surmodics by 18.8% during the 3rd quarter. Acadian Asset Management LLC now owns 354,738 shares of the company’s stock worth $11,377,000 after acquiring an additional 56,012 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Surmodics by 109.8% during the 4th quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock valued at $1,624,000 after purchasing an additional 23,379 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Surmodics by 149.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 34,916 shares of the company’s stock valued at $1,120,000 after purchasing an additional 20,906 shares in the last quarter. Vanguard Group Inc. increased its stake in Surmodics by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 846,164 shares of the company’s stock valued at $27,153,000 after purchasing an additional 19,635 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Surmodics during the 4th quarter valued at approximately $504,000. 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).