Surmodics (NASDAQ:SRDX) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Surmodics (NASDAQ:SRDX) from a buy rating to a strong-buy rating in a research report released on Tuesday.

Separately, Needham & Company LLC restated a buy rating and set a $47.00 target price on shares of Surmodics in a report on Wednesday, April 10th.

Surmodics Stock Up 0.7 %

Shares of SRDX stock opened at $26.60 on Tuesday. The firm has a fifty day moving average of $29.74 and a 200-day moving average of $31.96. The company has a quick ratio of 3.97, a current ratio of 4.84 and a debt-to-equity ratio of 0.24. Surmodics has a 12-month low of $16.79 and a 12-month high of $39.41. The company has a market capitalization of $378.78 million, a price-to-earnings ratio of 70.00 and a beta of 1.01.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC boosted its holdings in Surmodics by 149.2% during the third 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 last quarter. Panagora Asset Management Inc. acquired a new stake in Surmodics in the third quarter valued at $683,000. Acadian Asset Management LLC lifted its stake in Surmodics by 18.8% in the third quarter. Acadian Asset Management LLC now owns 354,738 shares of the company’s stock valued at $11,377,000 after acquiring an additional 56,012 shares during the last quarter. Moody National Bank Trust Division lifted its stake in Surmodics by 14.8% in the fourth quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock valued at $376,000 after acquiring an additional 1,331 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Surmodics in the fourth quarter valued at $163,000. 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).