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

Equities research analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX - Get Free Report) in a research report issued to clients and investors on Wednesday. The firm set a "hold" rating on the stock.

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Surmodics currently has an average rating of "Hold" and an average target price of $50.00.

Surmodics Stock Performance

NASDAQ:SRDX traded up $0.06 during trading hours on Wednesday, reaching $37.57. The stock had a trading volume of 75,108 shares, compared to its average volume of 229,965. Surmodics has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The stock has a 50 day simple moving average of $38.86 and a 200 day simple moving average of $38.21. The stock has a market cap of $536.01 million, a P/E ratio of -375.10 and a beta of 1.20.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04. The business had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. On average, research analysts forecast that Surmodics will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Surmodics by 7.5% during the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company's stock worth $202,000 after buying an additional 481 shares in the last quarter. SG Americas Securities LLC raised its stake in Surmodics by 14.7% in the first 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 lifted its position in Surmodics by 13.4% during the first 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 during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Surmodics by 3.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company's stock valued at $1,531,000 after buying an additional 1,221 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Surmodics by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 20,999 shares of the company's stock worth $883,000 after acquiring an additional 2,463 shares during the last quarter. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

About Surmodics

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).