StockNews.com Initiates Coverage on Surmodics (NASDAQ:SRDX)

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

A number of other analysts have also recently commented on SRDX. Needham & Company LLC cut Surmodics from a “buy” rating to a “hold” rating in a research report on Monday, February 13th. Barrington Research dropped their price target on Surmodics from $61.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, February 7th.

Surmodics Price Performance

Shares of Surmodics stock traded down $1.04 on Thursday, reaching $17.28. The company’s stock had a trading volume of 2,978,279 shares, compared to its average volume of 173,446. The company has a market capitalization of $244.17 million, a P/E ratio of -7.45 and a beta of 0.96. Surmodics has a 52-week low of $16.81 and a 52-week high of $45.85. The stock has a 50-day moving average price of $26.79 and a 200-day moving average price of $30.83. The company has a quick ratio of 3.00, a current ratio of 3.73 and a debt-to-equity ratio of 0.27.

Surmodics (NASDAQ:SRDX – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.13. The business had revenue of $24.93 million during the quarter, compared to analysts’ expectations of $24.19 million. Surmodics had a negative return on equity of 15.61% and a negative net margin of 31.71%. During the same period in the previous year, the business earned ($0.13) earnings per share. Analysts expect that Surmodics will post -1.93 EPS for the current year.

Institutional Trading of Surmodics

Large investors have recently made changes to their positions in the company. UBS Group AG increased its position in shares of Surmodics by 141.1% during the third quarter. UBS Group AG now owns 2,290 shares of the company’s stock worth $70,000 after purchasing an additional 1,340 shares in the last quarter. Captrust Financial Advisors grew its holdings in Surmodics by 24.3% in the 1st quarter. Captrust Financial Advisors now owns 2,307 shares of the company’s stock valued at $105,000 after buying an additional 451 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Surmodics by 16.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,350 shares of the company’s stock valued at $87,000 after buying an additional 337 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Surmodics in the 3rd quarter valued at $87,000. Finally, BNP Paribas Arbitrage SNC grew its holdings in Surmodics by 34.4% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,854 shares of the company’s stock valued at $148,000 after buying an additional 1,243 shares in the last quarter. 96.49% of the stock is currently owned by hedge funds and other institutional investors.

About Surmodics

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Surmodics, Inc engages in the provision of surface modification technologies for intravascular medical devices and chemical components for in vitro diagnostic immunoassay tests and microarrays. It also develops and commercializes medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements.