Surmodics (NASDAQ:SRDX) Earns “Hold” Rating from Needham & Company LLC

Surmodics (NASDAQ:SRDX)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Separately, StockNews.com initiated coverage on shares of Surmodics in a research note on Thursday. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.00.

Surmodics Trading Up 0.2 %

Shares of SRDX stock traded up $0.06 during trading hours on Thursday, hitting $38.46. The company had a trading volume of 118,959 shares, compared to its average volume of 230,828. The company’s fifty day moving average is $38.57 and its 200 day moving average is $38.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. Surmodics has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The stock has a market capitalization of $548.82 million, a PE ratio of -47.48 and a beta of 1.20.

Hedge Funds Weigh In On Surmodics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC raised its position in shares of Surmodics by 393.7% in the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after purchasing an additional 207,500 shares during the period. Gardner Lewis Asset Management L P acquired a new position in shares of Surmodics in the 2nd quarter valued at $8,531,000. Phocas Financial Corp. bought a new stake in Surmodics in the 3rd quarter valued at $3,430,000. Nisa Investment Advisors LLC lifted its position in Surmodics by 4,722.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after buying an additional 67,010 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Surmodics during the 2nd quarter worth about $2,723,000. Institutional investors own 96.63% of the company’s stock.

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).