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

Barrington Research reiterated their outperform rating on shares of Surmodics (NASDAQ:SRDX) in a research report sent to investors on Thursday morning, Benzinga reports. Barrington Research currently has a $71.00 target price on the stock.

Several other analysts have also recently commented on the company. Needham & Company LLC dropped their price target on Surmodics from $47.00 to $43.00 and set a buy rating for the company in a research report on Wednesday, May 1st. StockNews.com lowered shares of Surmodics from a strong-buy rating to a buy rating in a report on Wednesday, April 24th.

Surmodics Stock Performance

NASDAQ:SRDX opened at $32.49 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.59 and a current ratio of 4.39. The stock has a market capitalization of $463.31 million, a PE ratio of 34.20 and a beta of 1.04. Surmodics has a fifty-two week low of $16.79 and a fifty-two week high of $39.41. The company has a fifty day moving average of $28.63 and a two-hundred day moving average of $31.67.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.43. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The firm had revenue of $31.96 million during the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. As a group, research analysts forecast that Surmodics will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

A number of large investors have recently made changes to their positions in SRDX. SG Americas Securities LLC acquired a new position in Surmodics during the fourth quarter worth $163,000. Hillsdale Investment Management Inc. grew its holdings in shares of Surmodics by 15.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company’s stock valued at $166,000 after purchasing an additional 620 shares during the period. BNP Paribas Financial Markets increased its position in Surmodics by 7.5% during 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 during the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in Surmodics during the first quarter worth about $223,000. Finally, Strs Ohio boosted its holdings in Surmodics by 97.2% in the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock valued at $258,000 after purchasing an additional 3,500 shares during the last quarter. 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).