Surmodics (NASDAQ:SRDX) Receives “Outperform” Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Surmodics (NASDAQ:SRDX) in a research note published on Thursday morning, Benzinga reports. They currently have a $71.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on SRDX. StockNews.com downgraded Surmodics from a strong-buy rating to a buy rating in a report on Wednesday, April 24th. Needham & Company LLC lowered their price objective on Surmodics from $47.00 to $43.00 and set a buy rating for the company in a research note on Wednesday.

Surmodics Stock Down 6.0 %

Surmodics stock traded down $2.06 during midday trading on Thursday, hitting $32.49. 90,444 shares of the company were exchanged, compared to its average volume of 134,803. The company’s fifty day moving average price is $28.63 and its 200-day moving average price is $31.66. The company has a market cap of $463.31 million, a PE ratio of 34.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.97. Surmodics has a fifty-two week low of $16.79 and a fifty-two week high of $39.41.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. The company had revenue of $31.96 million for the quarter, compared to analyst estimates of $28.79 million. During the same period in the prior year, the company posted ($0.40) EPS. On average, research analysts predict that Surmodics will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Surmodics by 2.4% in the third quarter. Vanguard Group Inc. now owns 846,164 shares of the company’s stock worth $27,153,000 after purchasing an additional 19,635 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of 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 buying an additional 56,012 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of Surmodics by 1.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 129,940 shares of the company’s stock valued at $4,723,000 after buying an additional 1,700 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Surmodics by 6.4% in the fourth quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock valued at $2,466,000 after buying an additional 4,066 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Surmodics by 109.8% in the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock valued at $1,624,000 after buying an additional 23,379 shares during the period. Institutional investors own 96.63% of the company’s stock.

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).