Lake Street Capital upgraded shares of Surmodics (NASDAQ:SRDX – Free Report) 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.
View Our Latest Report on Surmodics
Surmodics Price Performance
Surmodics (NASDAQ:SRDX – Get Free Report) 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).
Recommended Stories
- Five stocks we like better than Surmodics
- What is the Australian Securities Exchange (ASX)
- Is Myers Industries Poised for a Breakout?
- What is the S&P 500 and How It is Distinct from Other Indexes
- Is BigBear.ai’s 25% Plunge a False Alarm or Fire Sale?
- How to Use the MarketBeat Dividend Calculator
- Broadcom Confirmed Its AI Outlook: Stock to Hit New Highs Soon
Receive News & Ratings for Surmodics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surmodics and related companies with MarketBeat.com's FREE daily email newsletter.