Surmodics (NASDAQ:SRDX) Sees Unusually-High Trading Volume

Surmodics, Inc. (NASDAQ:SRDX) shares saw strong trading volume on Monday . 406,885 shares changed hands during trading, an increase of 93% from the previous session’s volume of 211,054 shares.The stock last traded at $41.05 and had previously closed at $41.10.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com assumed coverage on Surmodics in a research report on Sunday. They set a “hold” rating for the company. Lake Street Capital reiterated a “hold” rating and set a $43.00 price target on shares of Surmodics in a research report on Wednesday, May 29th. Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Sidoti restated a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

The firm has a market capitalization of $585.23 million, a PE ratio of 43.26 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The firm has a fifty day moving average price of $41.80 and a 200 day moving average price of $34.77.

Institutional Investors Weigh In On Surmodics

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Surmodics during the fourth quarter valued at $163,000. Hillsdale Investment Management Inc. raised its position in Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after buying an additional 620 shares during the period. Hardin Capital Partners LLC acquired a new position in Surmodics during the second quarter valued at $206,000. Lazard Asset Management LLC raised its position in Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares during the period. Finally, Bailard Inc. acquired a new position in Surmodics during the second quarter valued at $257,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

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).