Surmodics (NASDAQ:SRDX) Earns Underperform Rating from Barrington Research

Surmodics (NASDAQ:SRDX)‘s stock had its “underperform” rating reaffirmed by Barrington Research in a research note issued on Friday, MarketBeat.com reports.

Other analysts have also issued research reports about the company. Zacks Research raised Surmodics to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $43.00.

Surmodics Stock Performance

Surmodics stock traded up $0.17 during trading hours on Friday, reaching $41.58. 219,995 shares of the company were exchanged, compared to its average volume of 193,328. Surmodics has a 12 month low of $25.87 and a 12 month high of $41.71. The firm has a market cap of $594.51 million, a price-to-earnings ratio of -33.80 and a beta of 1.30. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $30.09 and a 200 day moving average of $30.98.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Groupe la Francaise bought a new position in shares of Surmodics in the 1st quarter valued at about $3,648,000. Millennium Management LLC boosted its position in Surmodics by 71.6% during the first quarter. Millennium Management LLC now owns 206,487 shares of the company’s stock valued at $6,304,000 after purchasing an additional 86,143 shares during the last quarter. Tabor Asset Management LP bought a new position in Surmodics in the first quarter valued at approximately $2,476,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Surmodics by 51.2% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 195,387 shares of the company’s stock worth $5,965,000 after purchasing an additional 66,150 shares during the last quarter. Finally, Lighthouse Investment Partners LLC increased its position in shares of Surmodics by 200.1% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 94,772 shares of the company’s stock worth $2,816,000 after purchasing an additional 63,187 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

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).