Surmodics (NASDAQ:SRDX) Upgraded to “Buy” at Lake Street Capital

Lake Street Capital upgraded shares of Surmodics (NASDAQ:SRDX) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat reports. They currently have $43.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. StockNews.com assumed coverage on shares of Surmodics in a research note on Monday, February 3rd. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.00.

Surmodics Price Performance

Shares of Surmodics stock opened at $29.37 on Friday. The firm has a fifty day simple moving average of $35.75 and a 200-day simple moving average of $37.90. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. Surmodics has a 1-year low of $25.17 and a 1-year high of $42.44. The stock has a market capitalization of $419.87 million, a price-to-earnings ratio of -29.08 and a beta of 1.19.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. On average, sell-side analysts expect that Surmodics will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On Surmodics

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after buying an additional 60,240 shares during the period. Gabelli Funds LLC increased its holdings in Surmodics by 3.7% in the 4th quarter. Gabelli Funds LLC now owns 339,959 shares of the company’s stock valued at $13,462,000 after buying an additional 12,250 shares during the period. Hudson Bay Capital Management LP bought a new stake in Surmodics in the 4th quarter valued at $11,880,000. Gardner Lewis Asset Management L P increased its holdings in Surmodics by 23.5% in the 4th quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock valued at $10,410,000 after buying an additional 49,944 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Surmodics by 2.9% in the 4th quarter. Hsbc Holdings PLC now owns 254,698 shares of the company’s stock valued at $10,082,000 after buying an additional 7,163 shares during the period. Institutional investors own 96.63% of the company’s stock.

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).