StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

Several other brokerages also recently issued reports on SRDX. Sidoti restated a neutral rating and issued a $43.00 price target on shares of Surmodics in a report on Wednesday, May 29th. Lake Street Capital restated a hold rating and issued a $43.00 price target on shares of Surmodics in a report on Wednesday, May 29th. Barrington Research restated a market perform rating on shares of Surmodics in a report on Thursday, May 30th. Finally, Needham & Company LLC restated a hold rating on shares of Surmodics in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $50.00.

Surmodics Trading Down 0.4 %

NASDAQ:SRDX opened at $38.83 on Wednesday. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44. The business’s 50-day moving average price is $40.88 and its two-hundred day moving average price is $35.72. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $554.10 million, a price-to-earnings ratio of 40.87 and a beta of 1.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SRDX. Gabelli Funds LLC boosted its position in Surmodics by 393.7% during the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after purchasing an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P acquired a new position in Surmodics during the second quarter valued at approximately $8,531,000. Nisa Investment Advisors LLC boosted its position in Surmodics by 4,722.3% during the second quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock valued at $2,877,000 after purchasing an additional 67,010 shares during the last quarter. Versor Investments LP acquired a new position in Surmodics during the second quarter valued at approximately $2,723,000. Finally, Sagefield Capital LP acquired a new position in Surmodics during the second quarter valued at approximately $2,350,000. 96.63% of the stock is currently owned by 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).