Surmodics (NASDAQ:SRDX) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Surmodics (NASDAQ:SRDX - Get Free Report) in a report released on Saturday. The firm set a "hold" rating on the stock.

Separately, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $50.00.

Surmodics Stock Up 0.1 %

Shares of Surmodics stock traded up $0.02 during trading hours on Friday, hitting $38.49. The company had a trading volume of 62,279 shares, compared to its average volume of 232,385. The company's 50-day moving average is $40.03 and its two-hundred day moving average is $36.49. The company has a market cap of $549.25 million, a P/E ratio of 40.52 and a beta of 1.20. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.04. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. Analysts anticipate that Surmodics will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surmodics

A number of hedge funds and other institutional investors have recently bought and sold shares of SRDX. Acadian Asset Management LLC raised its position in Surmodics by 11.3% during the 1st 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. Renaissance Technologies LLC raised its holdings in Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company's stock worth $25,499,000 after purchasing an additional 28,990 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new stake in Surmodics in the second quarter valued at about $8,531,000. Sagefield Capital LP purchased a new stake in Surmodics in the 2nd quarter valued at approximately $2,350,000. Finally, Trium Capital LLP purchased a new stake in Surmodics in the 2nd quarter valued at approximately $1,406,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

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).