Surmodics (NASDAQ:SRDX) Stock Rating Reaffirmed by Barrington Research

Surmodics (NASDAQ:SRDX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Barrington Research in a research note issued on Thursday, Benzinga reports. They currently have a $71.00 price objective on the stock. Barrington Research’s target price would indicate a potential upside of 118.53% from the company’s previous close.

SRDX has been the subject of a number of other research reports. Needham & Company LLC dropped 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. StockNews.com lowered Surmodics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th.

Surmodics Price Performance

NASDAQ SRDX traded down $2.06 on Thursday, reaching $32.49. 90,444 shares of the company’s stock traded hands, compared to its average volume of 134,803. Surmodics has a 12 month low of $16.79 and a 12 month high of $39.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.97. The stock has a 50-day simple moving average of $28.63 and a 200 day simple moving average of $31.66. The stock has a market cap of $463.31 million, a PE ratio of 34.20 and a beta of 1.04.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The business had revenue of $31.96 million for the quarter, compared to analysts’ expectations of $28.79 million. During the same period last year, the business earned ($0.40) earnings per share. As a group, research analysts predict that Surmodics will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Surmodics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Surmodics during the fourth quarter valued at $163,000. Hillsdale Investment Management Inc. raised its position in shares of Surmodics by 15.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after purchasing an additional 620 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after purchasing an additional 481 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of Surmodics in the 1st quarter worth about $223,000. Finally, Strs Ohio raised its position in shares of Surmodics by 97.2% in the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other 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).