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

StockNews.com initiated coverage on shares of Surmodics (NASDAQ:SRDX) in a report published on Friday morning. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

Shares of SRDX traded up $0.63 during trading hours on Friday, hitting $38.72. The company had a trading volume of 125,948 shares, compared to its average volume of 230,123. 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 business has a fifty day moving average of $38.50 and a 200-day moving average of $39.11. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 business had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Equities analysts anticipate that Surmodics will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC lifted its holdings in shares of Surmodics by 107,100.0% in the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after acquiring an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in Surmodics in the 3rd quarter valued at approximately $67,000. Hardin Capital Partners LLC bought a new position in Surmodics in the 2nd quarter valued at approximately $206,000. SG Americas Securities LLC raised its holdings 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 buying an additional 660 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Surmodics in the 2nd quarter valued at approximately $229,000. Institutional investors own 96.63% of the company’s stock.

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).