StockNews.com Lowers Surmodics (NASDAQ:SRDX) to Buy

StockNews.com cut shares of Surmodics (NASDAQ:SRDX) from a strong-buy rating to a buy rating in a research note published on Wednesday.

Separately, Needham & Company LLC reiterated a buy rating and issued a $47.00 target price on shares of Surmodics in a report on Wednesday, April 10th.

Surmodics Price Performance

Surmodics stock opened at $26.17 on Wednesday. The stock’s 50 day moving average is $28.77 and its 200 day moving average is $31.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.84 and a quick ratio of 3.97. The firm has a market cap of $372.66 million, a P/E ratio of 68.87 and a beta of 1.01. Surmodics has a one year low of $16.79 and a one year high of $39.41.

Institutional Investors Weigh In On Surmodics

A number of hedge funds have recently added to or reduced their stakes in SRDX. SG Americas Securities LLC bought a new stake in Surmodics in the fourth quarter worth approximately $163,000. Hillsdale Investment Management Inc. increased its holdings in Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after purchasing an additional 620 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Surmodics during the first quarter valued at approximately $223,000. Strs Ohio increased its holdings in shares of Surmodics by 97.2% during the fourth quarter. Strs Ohio now owns 7,100 shares of the company’s stock valued at $258,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of Surmodics during the fourth quarter valued at approximately $360,000. 96.63% of the stock is currently owned by institutional investors.

Surmodics Company Profile

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).