Surmodics (NASDAQ:SRDX) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Surmodics (NASDAQ:SRDX) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

Separately, Needham & Company LLC reaffirmed a buy rating and set a $47.00 price objective on shares of Surmodics in a report on Wednesday, April 10th.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $26.60 on Tuesday. The company’s 50-day moving average is $29.74 and its 200 day moving average is $31.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84. The company has a market capitalization of $378.78 million, a P/E ratio of 70.00 and a beta of 1.01. Surmodics has a fifty-two week low of $16.79 and a fifty-two week high of $39.41.

Institutional Investors Weigh In On Surmodics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of Surmodics by 0.9% during the second quarter. Legal & General Group Plc now owns 34,615 shares of the company’s stock valued at $1,289,000 after buying an additional 302 shares during the period. Yousif Capital Management LLC increased its position in shares of Surmodics by 2.4% during the first quarter. Yousif Capital Management LLC now owns 12,777 shares of the company’s stock valued at $579,000 after buying an additional 305 shares during the period. Rhumbline Advisers increased its position in shares of Surmodics by 0.8% during the second quarter. Rhumbline Advisers now owns 37,138 shares of the company’s stock valued at $1,383,000 after buying an additional 312 shares during the period. Franklin Resources Inc. increased its position in shares of Surmodics by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 7,174 shares of the company’s stock valued at $261,000 after buying an additional 317 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in shares of Surmodics by 0.5% during the second quarter. Gamco Investors INC. ET AL now owns 76,900 shares of the company’s stock valued at $2,408,000 after buying an additional 400 shares during the period. 96.63% of the stock is currently 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).