Surmodics (NASDAQ:SRDX) Rating Lowered to Buy at StockNews.com

Surmodics (NASDAQ:SRDX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Surmodics in a research note on Wednesday, April 10th.

Surmodics Stock Up 0.4 %

Shares of NASDAQ:SRDX opened at $26.17 on Wednesday. The stock’s 50-day moving average price is $28.87 and its two-hundred day moving average price is $31.71. The company has a current ratio of 4.84, a quick ratio of 3.97 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 firm has a market cap of $372.66 million, a price-to-earnings ratio of 68.87 and a beta of 1.01.

Institutional Investors Weigh In On Surmodics

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Surmodics during the 4th quarter worth approximately $163,000. Hillsdale Investment Management Inc. increased its holdings in Surmodics by 15.7% during 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. Mesirow Financial Investment Management Inc. purchased a new stake in Surmodics during the 1st quarter worth approximately $223,000. Strs Ohio increased its holdings in 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 during the last quarter. Finally, Summit Global Investments purchased a new stake in Surmodics during the 4th quarter worth approximately $360,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

About Surmodics

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).