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

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX - Free Report) in a research note released on Tuesday. The firm issued a hold rating on the stock.

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Separately, Needham & Company LLC reiterated 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, According to MarketBeat, Surmodics has a consensus rating of "Hold" and a consensus price target of $50.00.

Check Out Our Latest Stock Analysis on Surmodics

Surmodics Stock Performance

Shares of Surmodics stock opened at $38.41 on Tuesday. The stock has a market cap of $548.11 million, a price-to-earnings ratio of -384.10 and a beta of 1.20. The firm's 50-day moving average is $39.15 and its 200 day moving average is $37.69. Surmodics has a 1 year low of $25.17 and a 1 year 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 announced 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. The company had revenue of $30.34 million for the quarter, compared to analysts' expectations of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. Sell-side analysts anticipate that Surmodics will post -0.47 EPS for the current fiscal year.

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Hedge Funds Weigh In On Surmodics

A number of hedge funds have recently bought and sold shares of SRDX. Mesirow Financial Investment Management Inc. purchased a new position in Surmodics in the 1st quarter worth about $223,000. BNP Paribas Financial Markets increased its position in shares of Surmodics by 7.5% during 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 during the last quarter. SG Americas Securities LLC increased its position in shares of Surmodics by 14.7% during 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 during the last quarter. Vanguard Group Inc. increased its position in shares of Surmodics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company's stock valued at $25,385,000 after purchasing an additional 5,927 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Surmodics by 11.3% during the 1st quarter. Acadian Asset Management LLC now owns 408,779 shares of the company's stock valued at $11,988,000 after purchasing an additional 41,617 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Company Profile

(Get Free Report)

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).

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