Barrington Research Reaffirms Outperform Rating for Surmodics (NASDAQ:SRDX)

Barrington Research reiterated their outperform rating on shares of Surmodics (NASDAQ:SRDX) in a report published on Thursday, Benzinga reports. They currently have a $71.00 target price on the stock.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Surmodics from a strong-buy rating to a buy rating in a research note on Wednesday, April 24th. Needham & Company LLC decreased their price target on Surmodics from $47.00 to $43.00 and set a buy rating for the company in a research note on Wednesday.

Surmodics Stock Down 6.0 %

NASDAQ:SRDX opened at $32.49 on Thursday. The firm has a market capitalization of $463.31 million, a price-to-earnings ratio of 34.20 and a beta of 1.04. Surmodics has a 1-year low of $16.79 and a 1-year high of $39.41. The company has a current ratio of 4.39, a quick ratio of 3.97 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average price is $28.63 and its 200 day moving average price is $31.67.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The company had revenue of $31.96 million for the quarter, compared to analyst estimates of $28.79 million. During the same period in the prior year, the firm posted ($0.40) EPS. On average, sell-side analysts forecast that Surmodics will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Surmodics

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Surmodics during the 4th quarter valued at approximately $163,000. Hillsdale Investment Management Inc. boosted its stake in Surmodics by 15.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares during the period. BNP Paribas Financial Markets boosted its stake in Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after purchasing an additional 481 shares during the period. Strs Ohio raised its holdings in 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 in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Surmodics in the 1st quarter valued at approximately $223,000. Institutional investors own 96.63% of the company’s stock.

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).