Surmodics (NASDAQ:SRDX) Downgraded to “Buy” at StockNews.com

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

Separately, Needham & Company LLC restated a buy rating and set a $47.00 price objective on shares of Surmodics in a research report on Wednesday, April 10th.

Surmodics Stock Performance

NASDAQ SRDX opened at $26.17 on Wednesday. The firm has a 50 day simple moving average of $28.77 and a 200-day simple moving average of $31.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84. Surmodics has a one year low of $16.79 and a one year high of $39.41. The firm has a market cap of $372.56 million, a price-to-earnings ratio of 68.87 and a beta of 1.01.

Hedge Funds Weigh In On Surmodics

A number of institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. increased its holdings in shares of Surmodics by 15.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after acquiring an additional 620 shares during the period. Moody National Bank Trust Division increased its holdings in shares of Surmodics by 14.8% in the 4th quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock valued at $376,000 after acquiring an additional 1,331 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of Surmodics by 1.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 129,940 shares of the company’s stock valued at $4,723,000 after acquiring an additional 1,700 shares during the period. Strs Ohio increased its holdings in shares of Surmodics by 97.2% in the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock valued at $258,000 after acquiring an additional 3,500 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Surmodics by 6.4% in the 4th quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock valued at $2,466,000 after acquiring an additional 4,066 shares during the period. 96.63% of the stock is owned by institutional investors and hedge funds.

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).