Surmodics (NASDAQ:SRDX) Reaches New 1-Year High – Still a Buy?

Shares of Surmodics, Inc. (NASDAQ:SRDX) reached a new 52-week high on Tuesday . The company traded as high as $41.20 and last traded at $40.9130, with a volume of 1110010 shares. The stock had previously closed at $27.34.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. Barrington Research reissued a “market perform” rating on shares of Surmodics in a report on Monday, August 11th. Finally, Zacks Research raised Surmodics to a “hold” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.00.

Surmodics Price Performance

The company has a fifty day simple moving average of $29.65 and a 200 day simple moving average of $30.76. The stock has a market capitalization of $586.53 million, a price-to-earnings ratio of -33.35 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.27. The company had revenue of $29.57 million during the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%. Equities research analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Surmodics

A number of hedge funds have recently bought and sold shares of SRDX. CWM LLC raised its position in Surmodics by 65.4% in the 3rd quarter. CWM LLC now owns 1,047 shares of the company’s stock valued at $31,000 after buying an additional 414 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Surmodics by 67.6% in the second quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company’s stock valued at $43,000 after purchasing an additional 579 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Surmodics by 1.8% during the first quarter. Principal Financial Group Inc. now owns 36,699 shares of the company’s stock valued at $1,120,000 after purchasing an additional 638 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Surmodics by 705.9% during the second quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 1,080 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Surmodics by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 336,239 shares of the company’s stock worth $9,992,000 after acquiring an additional 1,128 shares during the last quarter. 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).