Needham & Company LLC Reiterates Buy Rating for Surmodics (NASDAQ:SRDX)

Surmodics (NASDAQ:SRDX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $47.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 69.80% from the stock’s current price.

Separately, StockNews.com upgraded shares of Surmodics from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th.

Surmodics Stock Up 0.1 %

SRDX stock opened at $27.68 on Wednesday. Surmodics has a one year low of $16.79 and a one year high of $39.41. The stock has a market capitalization of $394.16 million, a PE ratio of 72.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84. The company has a fifty day moving average of $30.00 and a 200-day moving average of $32.06.

Institutional Trading of Surmodics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in shares of Surmodics by 305.8% in the third quarter. Tower Research Capital LLC TRC now owns 775 shares of the company’s stock valued at $25,000 after purchasing an additional 584 shares during the period. UBS Group AG raised its position in Surmodics by 141.1% during the third quarter. UBS Group AG now owns 2,290 shares of the company’s stock worth $70,000 after acquiring an additional 1,340 shares during the last quarter. Captrust Financial Advisors raised its position in Surmodics by 24.3% during the first quarter. Captrust Financial Advisors now owns 2,307 shares of the company’s stock worth $105,000 after acquiring an additional 451 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Surmodics during the third quarter worth about $87,000. Finally, Citigroup Inc. raised its position in Surmodics by 1,023.0% during the second quarter. Citigroup Inc. now owns 4,144 shares of the company’s stock worth $130,000 after acquiring an additional 3,775 shares during the last quarter. Institutional investors and hedge funds 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).