Brokerages Set Surmodics, Inc. (NASDAQ:SRDX) Target Price at $43.00

Surmodics, Inc. (NASDAQ:SRDX) has been assigned an average rating of “Reduce” from the five brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $43.00.

SRDX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Surmodics in a report on Wednesday, October 8th. Barrington Research reissued an “underperform” rating on shares of Surmodics in a research note on Friday, November 14th.

Surmodics Trading Up 0.4%

Shares of SRDX opened at $42.98 on Wednesday. Surmodics has a 52-week low of $25.87 and a 52-week high of $43.00. The stock has a market cap of $614.53 million, a PE ratio of -34.94 and a beta of 1.30. The firm’s fifty day moving average is $36.37 and its two-hundred day moving average is $33.58. The company has a quick ratio of 3.10, a current ratio of 3.91 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On Surmodics

Several hedge funds and other institutional investors have recently bought and sold shares of SRDX. Y Intercept Hong Kong Ltd purchased a new position in shares of Surmodics during the 2nd quarter worth $1,277,000. Nuveen LLC acquired a new position in Surmodics in the first quarter valued at about $1,262,000. Thompson Davis & CO. Inc. purchased a new position in Surmodics during the second quarter worth about $1,873,000. Hsbc Holdings PLC increased its position in shares of Surmodics by 4.8% during the first quarter. Hsbc Holdings PLC now owns 267,042 shares of the company’s stock valued at $8,252,000 after acquiring an additional 12,344 shares during the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of Surmodics in the 1st quarter valued at approximately $232,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Company Profile

Surmodics, Inc (NASDAQ: SRDX) is a medical technology company specializing in surface modification and drug-eluting coating technologies for medical devices and in vitro diagnostic applications. The company’s core expertise lies in polymer-based solutions that enhance device performance, including hydrophilic coatings to improve catheter lubricity and drug-delivery coatings for cardiovascular and peripheral vascular stents. Surmodics also offers proprietary diagnostic assay platforms and automation solutions for clinical laboratories.

Surmodics’ product portfolio is organized around two main segments: medical device and in vitro diagnostics.