Surmodics (NASDAQ:SRDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX - Free Report) in a research report report published on Monday morning. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC reissued a hold rating on shares of Surmodics in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $50.00.

Surmodics Stock Performance

Shares of NASDAQ SRDX traded down $0.25 during trading hours on Monday, reaching $38.32. The stock had a trading volume of 73,955 shares, compared to its average volume of 229,678. The firm has a market cap of $546.44 million, a price-to-earnings ratio of 40.53 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. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The firm has a 50-day moving average of $39.42 and a 200-day moving average of $37.33.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $30.32 million. Equities research analysts predict that Surmodics will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Surmodics

Several hedge funds have recently bought and sold shares of SRDX. SG Americas Securities LLC increased its stake in Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company's stock valued at $151,000 after purchasing an additional 660 shares in the last quarter. Lazard Asset Management LLC increased its stake 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 purchasing an additional 673 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company's stock valued at $202,000 after purchasing an additional 481 shares in the last quarter. Hardin Capital Partners LLC purchased a new position in Surmodics in the 2nd quarter valued at approximately $206,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Surmodics in the 1st quarter valued at approximately $223,000. 96.63% of the stock is 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).