SurModics (NASDAQ:SRDX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut SurModics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. ValuEngine raised SurModics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $40.00.

SurModics (SRDX) traded up $0.30 during midday trading on Tuesday, reaching $29.30. The company had a trading volume of 21,100 shares, compared to its average volume of 39,336. SurModics has a fifty-two week low of $21.90 and a fifty-two week high of $34.15. The firm has a market capitalization of $379.86, a PE ratio of 56.86 and a beta of 0.83.

SurModics (NASDAQ:SRDX) last released its earnings results on Wednesday, November 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.19. SurModics had a return on equity of 6.18% and a net margin of 5.37%. The business had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $16.98 million. equities analysts expect that SurModics will post -0.44 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of SurModics in the third quarter valued at approximately $116,000. Macquarie Group Ltd. bought a new stake in shares of SurModics in the third quarter valued at $123,000. BNP Paribas Arbitrage SA raised its stake in shares of SurModics by 66.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,270 shares of the company’s stock valued at $120,000 after buying an additional 1,700 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of SurModics by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,980 shares of the company’s stock valued at $154,000 after buying an additional 1,850 shares during the period. Finally, Condor Capital Management bought a new stake in shares of SurModics in the third quarter valued at $208,000. Institutional investors own 85.64% of the company’s stock.

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SurModics Company Profile

Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.

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