Surmodics (NASDAQ:SRDX) Downgraded by StockNews.com to Buy

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

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

Surmodics Stock Up 6.0 %

Shares of SRDX opened at $26.92 on Wednesday. The firm has a market capitalization of $383.34 million, a price-to-earnings ratio of 70.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84. The business’s fifty day moving average price is $29.14 and its two-hundred day moving average price is $31.79. Surmodics has a 52 week low of $16.79 and a 52 week high of $39.41.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Surmodics in the 4th quarter valued at $163,000. Hillsdale Investment Management Inc. lifted its stake in shares of Surmodics by 15.7% in the 4th 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. Strs Ohio lifted its stake in shares of 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 period. Mesirow Financial Investment Management Inc. acquired a new position in shares of Surmodics in the 1st quarter valued at $223,000. Finally, Summit Global Investments acquired a new position in shares of Surmodics in the 4th quarter valued at $360,000. 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).