Surmodics’ (SRDX) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Surmodics (NASDAQ:SRDX) in a report issued on Thursday morning,Benzinga reports.

Separately, StockNews.com initiated coverage on Surmodics in a research report on Thursday. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Surmodics currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Trading Up 0.2 %

Shares of Surmodics stock opened at $38.46 on Thursday. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44. The company’s fifty day simple moving average is $38.57 and its 200-day simple moving average is $38.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98.

Institutional Investors Weigh In On Surmodics

A number of institutional investors have recently added to or reduced their stakes in SRDX. Vanguard Group Inc. lifted its holdings in Surmodics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after purchasing an additional 5,927 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Surmodics by 5.0% during the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock worth $25,499,000 after purchasing an additional 28,990 shares in the last quarter. Acadian Asset Management LLC grew its stake 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 valued at $11,988,000 after purchasing an additional 41,617 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Surmodics by 393.7% in 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 in the last quarter. Finally, Gardner Lewis Asset Management L P bought a new position in Surmodics in the 2nd quarter valued at $8,531,000. 96.63% of the stock is owned by institutional investors and hedge funds.

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).