Surmodics (NASDAQ:SRDX) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other analysts have also weighed in on SRDX. Sidoti reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a research note on Wednesday, May 29th. Barrington Research reiterated a “market perform” rating on shares of Surmodics in a research note on Thursday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Finally, Lake Street Capital restated a “hold” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Surmodics Price Performance

Shares of SRDX stock opened at $39.22 on Wednesday. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $41.07 and a two-hundred day simple moving average of $35.60. The stock has a market capitalization of $559.67 million, a price-to-earnings ratio of 41.28 and a beta of 1.20.

Institutional Investors Weigh In On Surmodics

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