Surmodics (NASDAQ:SRDX) Now Covered by StockNews.com

Equities researchers at StockNews.com began coverage on shares of Surmodics (NASDAQ:SRDX) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Price Performance

Surmodics stock opened at $38.49 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. The company has a market capitalization of $549.25 million, a price-to-earnings ratio of -384.90 and a beta of 1.20. The company’s 50 day simple moving average is $38.64 and its 200-day simple moving average is $38.60. Surmodics has a 1 year low of $25.17 and a 1 year high of $42.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in shares of Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after purchasing an additional 481 shares during the last quarter. SG Americas Securities LLC increased its holdings in Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after buying an additional 660 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after buying an additional 673 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Surmodics by 3.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock worth $1,531,000 after acquiring an additional 1,221 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in shares of Surmodics by 6.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,766 shares of the company’s stock valued at $1,077,000 after acquiring an additional 1,800 shares during the last quarter. 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).