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

Analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX - Get Free Report) in a report released on Friday. The brokerage set a "hold" rating on the stock.

Separately, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Surmodics has an average rating of "Hold" and a consensus target price of $50.00.

Surmodics Trading Up 1.7 %

NASDAQ SRDX traded up $0.63 during trading on Friday, reaching $38.72. 125,948 shares of the stock traded hands, compared to its average volume of 230,123. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The firm has a market cap of $552.42 million, a price-to-earnings ratio of -47.80 and a beta of 1.20. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average price is $38.50 and its 200 day moving average price is $39.11.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.77%. The company had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Analysts predict that Surmodics will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Surmodics

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 481 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 during the last quarter. Lazard Asset Management LLC lifted its position in shares of 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 in the last quarter. Quest Partners LLC boosted its holdings in Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company's stock worth $42,000 after purchasing an additional 1,071 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company's stock worth $1,531,000 after purchasing an additional 1,221 shares in the last quarter. 96.63% of the stock is 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).