Surmodics (NASDAQ:SRDX) Price Target Increased to $71.00 by Analysts at Barrington Research

Surmodics (NASDAQ:SRDX) had its price target increased by Barrington Research from $69.00 to $71.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on SRDX. Needham & Company LLC dropped their price target on shares of Surmodics from $50.00 to $44.00 and set a buy rating for the company in a research note on Wednesday. StockNews.com initiated coverage on shares of Surmodics in a research note on Thursday, October 5th. They issued a buy rating for the company.

Surmodics Stock Performance

Surmodics stock opened at $31.27 on Thursday. The firm has a 50 day simple moving average of $32.09 and a 200-day simple moving average of $29.28. Surmodics has a 1-year low of $16.00 and a 1-year high of $39.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.62 and a quick ratio of 2.22.

Hedge Funds Weigh In On Surmodics

A number of hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in shares of Surmodics by 18.6% during the 3rd quarter. Deutsche Bank AG now owns 7,077 shares of the company’s stock worth $227,000 after purchasing an additional 1,108 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Surmodics by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 110,000 shares of the company’s stock worth $3,530,000 after purchasing an additional 4,052 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Surmodics by 149.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 34,916 shares of the company’s stock worth $1,120,000 after purchasing an additional 20,906 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Surmodics during the 3rd quarter worth approximately $683,000. Finally, Moody National Bank Trust Division boosted its position in shares of Surmodics by 18.7% during the 3rd quarter. Moody National Bank Trust Division now owns 9,010 shares of the company’s stock worth $289,000 after purchasing an additional 1,418 shares during the period. Hedge funds and other institutional investors own 87.09% 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 in two segments, Medical Device and In Vitro Diagnostics (IVD).