Surmodics (NASDAQ:SRDX) Rating Reiterated by Lake Street Capital

Surmodics (NASDAQ:SRDXGet Free Report)‘s stock had its “hold” rating reaffirmed by analysts at Lake Street Capital in a note issued to investors on Wednesday, Benzinga reports. They presently have a $43.00 price objective on the stock. Lake Street Capital’s price objective indicates a potential upside of 2.14% from the company’s current price.

A number of other research analysts have also commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Wednesday. StockNews.com lowered Surmodics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Barrington Research reiterated an “outperform” rating and issued a $71.00 price target on shares of Surmodics in a research report on Thursday, May 2nd. Finally, Sidoti restated a “neutral” rating and set a $43.00 price objective on shares of Surmodics in a research report on Wednesday. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.00.

Get Our Latest Stock Report on Surmodics

Surmodics Stock Performance

NASDAQ SRDX opened at $42.10 on Wednesday. The company has a 50-day moving average of $30.30 and a 200-day moving average of $32.27. The company has a market cap of $600.35 million, a P/E ratio of 44.32 and a beta of 1.04. Surmodics has a 12 month low of $17.73 and a 12 month high of $42.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59.

Surmodics (NASDAQ:SRDXGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.43. The company had revenue of $31.96 million during the quarter, compared to the consensus estimate of $28.79 million. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. During the same quarter last year, the company earned ($0.40) earnings per share. As a group, equities analysts predict that Surmodics will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares during the period. Hillsdale Investment Management Inc. boosted its stake in Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock worth $166,000 after purchasing an additional 620 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock worth $202,000 after purchasing an additional 481 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Surmodics during the first quarter worth $223,000. 96.63% of the stock is owned by institutional investors.

About Surmodics

(Get Free Report)

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).

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