BidaskClub lowered shares of SurModics (NASDAQ:SRDX) from a hold rating to a sell rating in a research note published on Tuesday morning.

Several other equities research analysts have also recently weighed in on SRDX. Zacks Investment Research cut SurModics from a hold rating to a sell rating in a report on Wednesday, November 15th. ValuEngine upgraded SurModics from a sell rating to a hold rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $40.00.

SurModics (NASDAQ:SRDX) traded up $0.65 on Tuesday, hitting $29.40. The stock had a trading volume of 134,205 shares, compared to its average volume of 35,304. SurModics has a 1 year low of $21.90 and a 1 year high of $34.15. The stock has a market cap of $393.81, a PE ratio of 56.37 and a beta of 0.83.

SurModics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.19. SurModics had a return on equity of 6.18% and a net margin of 5.37%. The firm had revenue of $20.06 million during the quarter, compared to analysts’ expectations of $16.98 million. equities analysts anticipate that SurModics will post -0.44 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of SRDX. TIAA CREF Investment Management LLC boosted its holdings in SurModics by 6.8% during the 1st quarter. TIAA CREF Investment Management LLC now owns 53,251 shares of the company’s stock valued at $1,281,000 after acquiring an additional 3,383 shares during the period. Vanguard Group Inc. raised its position in SurModics by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 694,114 shares of the company’s stock valued at $16,693,000 after purchasing an additional 30,518 shares during the last quarter. Geode Capital Management LLC raised its position in SurModics by 4.9% during the 1st quarter. Geode Capital Management LLC now owns 164,452 shares of the company’s stock valued at $3,954,000 after purchasing an additional 7,607 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SurModics by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 600,421 shares of the company’s stock valued at $14,440,000 after purchasing an additional 12,497 shares during the last quarter. Finally, Morgan Stanley raised its position in SurModics by 8.7% during the 1st quarter. Morgan Stanley now owns 89,123 shares of the company’s stock valued at $2,143,000 after purchasing an additional 7,167 shares during the last quarter. Institutional investors own 85.64% of the company’s stock.

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About SurModics

Surmodics, Inc is a provider of medical device and in vitro diagnostic technologies to the healthcare industry. The Company operates through two segments: Medical Device and In Vitro Diagnostics. The Company’s Medical Device segment consists of surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices; international cardiology and peripheral balloon design, development and manufacturing, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device.

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