Surmodics (NASDAQ:SRDX) Receives “Underperform” Rating from Barrington Research

Barrington Research reissued their underperform rating on shares of Surmodics (NASDAQ:SRDX) in a research report sent to investors on Friday morning, Marketbeat reports.

SRDX has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Surmodics in a research report on Wednesday, October 8th. Zacks Research raised Surmodics to a “hold” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $43.00.

Surmodics Price Performance

Shares of NASDAQ SRDX traded up $0.20 during trading hours on Friday, hitting $41.61. 443,603 shares of the stock were exchanged, compared to its average volume of 194,506. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91. The company has a market cap of $594.94 million, a PE ratio of -33.83 and a beta of 1.30. The company’s fifty day simple moving average is $30.28 and its two-hundred day simple moving average is $31.06. Surmodics has a 1-year low of $25.87 and a 1-year high of $41.75.

Institutional Trading of Surmodics

Several hedge funds and other institutional investors have recently made changes to their positions in SRDX. CWM LLC raised its holdings 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. Russell Investments Group Ltd. increased its position in Surmodics by 705.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $37,000 after acquiring an additional 1,080 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Surmodics by 67.6% during the second quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company’s stock valued at $43,000 after acquiring an additional 579 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Surmodics by 289.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company’s stock valued at $51,000 after acquiring an additional 1,286 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Surmodics during the third quarter worth $101,000. 96.63% of the stock is currently owned by institutional investors.

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).