Surmodics (NASDAQ:SRDX) Rating Reiterated by Barrington Research

Surmodics (NASDAQ:SRDX)‘s stock had its “outperform” rating reaffirmed by research analysts at Barrington Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $71.00 price objective on the stock. Barrington Research’s price target suggests a potential upside of 103.44% from the company’s previous close.

A number of other research firms have also recently weighed in on SRDX. Needham & Company LLC cut their price objective on shares of Surmodics from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com cut shares of Surmodics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th.

Surmodics Trading Up 4.7 %

SRDX stock traded up $1.57 during mid-day trading on Thursday, hitting $34.90. 138,375 shares of the company were exchanged, compared to its average volume of 60,777. The company has a quick ratio of 3.97, a current ratio of 4.84 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $496.98 million, a P/E ratio of 92.27 and a beta of 1.04. The business has a fifty day simple moving average of $28.58 and a 200-day simple moving average of $31.63. Surmodics has a 12-month low of $16.79 and a 12-month high of $39.41.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a net margin of 3.99% and a return on equity of 8.06%. The company had revenue of $31.96 million during the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. On average, equities research analysts predict that Surmodics will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surmodics

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Surmodics in the 4th quarter valued at $163,000. Hillsdale Investment Management Inc. increased its stake in Surmodics by 15.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after buying an additional 620 shares during the period. BNP Paribas Financial Markets increased its stake in Surmodics by 7.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after buying an additional 481 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in Surmodics in the 1st quarter valued at $223,000. Finally, Strs Ohio boosted its position in shares of Surmodics by 97.2% during 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 in the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

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).