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 Tuesday. The brokerage issued a hold rating on the stock.

SRDX has been the subject of a number of other reports. Needham & Company LLC reaffirmed a hold rating on shares of Surmodics in a research report on Monday, August 5th. Sidoti reissued a neutral rating and set a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Lake Street Capital reissued a hold rating and set a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Finally, Barrington Research reissued a market perform rating on shares of Surmodics in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $50.00.

Surmodics Stock Performance

Shares of Surmodics stock opened at $39.63 on Tuesday. Surmodics has a one year low of $25.17 and a one year high of $42.44. The firm has a market capitalization of $565.52 million, a price-to-earnings ratio of 41.72 and a beta of 1.18. The business has a 50-day simple moving average of $41.17 and a 200 day simple moving average of $35.45. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22.

Hedge Funds Weigh In On Surmodics

Institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. grew its holdings in shares of Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after acquiring an additional 620 shares in the last quarter. Hardin Capital Partners LLC bought a new position in Surmodics during the second quarter valued at $206,000. SG Americas Securities LLC increased its position in Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock worth $151,000 after buying an additional 660 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Surmodics in the second quarter valued at $229,000. Finally, Lazard Asset Management LLC lifted its position in shares of Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares during the last quarter. 96.63% of the stock is 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).