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

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

Separately, Needham & Company LLC reaffirmed 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 stock has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Stock Performance

Shares of SRDX stock traded up $0.06 on Thursday, hitting $38.46. The company had a trading volume of 34,589 shares, compared to its average volume of 230,440. The firm has a market cap of $548.82 million, a P/E ratio of -47.41 and a beta of 1.20. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a 50-day moving average price of $38.60 and a 200-day moving average price of $38.60. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Surmodics

Several large investors have recently modified their holdings of SRDX. Vanguard Group Inc. boosted its position in Surmodics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after buying an additional 5,927 shares during the period. Renaissance Technologies LLC grew its stake in shares of Surmodics by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after purchasing an additional 28,990 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock worth $11,988,000 after purchasing an additional 41,617 shares during the period. Gabelli Funds LLC grew its position in Surmodics by 393.7% in the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Finally, Gardner Lewis Asset Management L P acquired a new position in Surmodics in the 2nd quarter valued at $8,531,000. Institutional investors and hedge funds 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).