Surmodics (NASDAQ:SRDX) Reaches New 52-Week High at $42.44

Surmodics, Inc. (NASDAQ:SRDX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $42.44 and last traded at $42.25, with a volume of 79533 shares changing hands. The stock had previously closed at $42.04.

Wall Street Analysts Forecast Growth

SRDX has been the topic of several recent research reports. StockNews.com began coverage on shares of Surmodics in a research report on Tuesday, July 2nd. They set a “hold” rating on the stock. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Sidoti reiterated a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Lake Street Capital restated a “hold” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Up 0.4 %

The firm has a market capitalization of $601.91 million, a price-to-earnings ratio of 44.25 and a beta of 1.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.59 and a current ratio of 4.39. The business’s 50 day moving average is $38.29 and its 200-day moving average is $33.62.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The company had revenue of $31.96 million for the quarter, compared to the consensus estimate of $28.79 million. During the same period last year, the business posted ($0.40) earnings per share. Equities analysts anticipate that Surmodics, Inc. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Surmodics

A number of hedge funds have recently added to or reduced their stakes in SRDX. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Surmodics in the first quarter worth about $1,270,000. Acadian Asset Management LLC raised its stake in shares of Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after buying an additional 41,617 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Surmodics by 109.8% during the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock worth $1,624,000 after buying an additional 23,379 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Surmodics by 2.4% in the third quarter. Vanguard Group Inc. now owns 846,164 shares of the company’s stock valued at $27,153,000 after buying an additional 19,635 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Surmodics in the fourth 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).