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

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Saturday morning. The brokerage issued a hold rating on the stock.

Several other brokerages also recently issued reports on SRDX. Needham & Company LLC reissued a hold rating on shares of Surmodics in a research report on Wednesday, May 29th. Barrington Research reissued a market perform rating on shares of Surmodics in a research report on Thursday, May 30th. Sidoti reissued a neutral rating and set a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Finally, Lake Street Capital reissued a hold rating and set a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Surmodics currently has an average rating of Hold and an average target price of $50.00.

Surmodics Trading Down 0.6 %

NASDAQ SRDX opened at $41.00 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.59. The firm’s fifty day moving average price is $41.73 and its 200 day moving average price is $34.57. The company has a market capitalization of $585.07 million, a price-to-earnings ratio of 43.16 and a beta of 1.18. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44.

Institutional Trading of Surmodics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC acquired a new stake in shares of Surmodics in the second quarter valued at about $1,092,000. Rhumbline Advisers lifted its stake in shares of Surmodics by 13.3% in the second quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after purchasing an additional 2,463 shares during the period. Versor Investments LP acquired a new stake in shares of Surmodics in the second quarter valued at about $2,723,000. Bailard Inc. acquired a new stake in shares of Surmodics in the second quarter valued at about $257,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Surmodics by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock valued at $2,464,000 after purchasing an additional 8,220 shares during the period. Institutional investors and hedge funds 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).