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

by · The Markets Daily

StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX – Free Report) in a research report released on Monday morning. The brokerage issued a hold rating on the stock.

Separately, Needham & Company LLC reissued 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, the company presently has a consensus rating of “Hold” and an average price target of $50.00.

Read Our Latest Analysis on SRDX

Surmodics Stock Performance

Shares of SRDX stock opened at $38.38 on Monday. The company has a market cap of $547.68 million, a P/E ratio of -383.80 and a beta of 1.20. The firm has a fifty day moving average price of $39.20 and a 200 day moving average price of $37.47. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics has a 12 month low of $25.17 and a 12 month high of $42.44.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SRDX. BNP Paribas Financial Markets boosted its holdings in shares of Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after acquiring an additional 481 shares during the period. SG Americas Securities LLC grew its position in Surmodics by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after purchasing an additional 660 shares during the last quarter. Lazard Asset Management LLC increased its stake in Surmodics by 13.4% in 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 period. Los Angeles Capital Management LLC raised its holdings in shares of Surmodics by 3.5% in the second 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 during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Surmodics by 13.3% during the second quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock worth $883,000 after buying an additional 2,463 shares during the period. Hedge funds and other institutional investors own 96.63% of the company’s stock.

About Surmodics

(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).

Recommended Stories