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

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a research report released on Thursday morning. The brokerage issued a hold rating on the stock.

A number of other equities analysts have also issued reports on the company. Sidoti reissued a neutral rating and issued a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Needham & Company LLC reissued a hold rating on shares of Surmodics in a report on Monday, August 5th. Lake Street Capital restated a hold rating and set a $43.00 price objective on shares of Surmodics in a research note on Wednesday, May 29th. Finally, Barrington Research reiterated a market perform rating on shares of Surmodics in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $50.00.

Surmodics Price Performance

NASDAQ SRDX opened at $39.01 on Thursday. The company has a 50-day moving average price of $40.67 and a two-hundred day moving average price of $35.90. Surmodics has a 52 week low of $25.17 and a 52 week high of $42.44. The stock has a market cap of $556.67 million, a price-to-earnings ratio of 41.06 and a beta of 1.20. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Surmodics

Several hedge funds have recently modified their holdings of SRDX. SG Americas Securities LLC boosted its stake in Surmodics by 14.7% during the first 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. Lazard Asset Management LLC lifted its holdings in Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after acquiring an additional 673 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Surmodics by 15.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after purchasing an additional 481 shares during the last quarter. Finally, Hardin Capital Partners LLC acquired a new position in shares of Surmodics in the 2nd quarter worth approximately $206,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

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).