Surmodics, Inc. (NASDAQ:SRDX) Given Consensus Recommendation of “Reduce” by Brokerages

Surmodics, Inc. (NASDAQ:SRDX) has been given an average rating of “Reduce” by the five analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $43.00.

SRDX has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. Zacks Research raised shares of Surmodics to a “hold” rating in a research report on Tuesday, August 12th. Finally, Barrington Research reissued an “underperform” rating on shares of Surmodics in a research report on Friday, November 14th.

Hedge Funds Weigh In On Surmodics

A number of institutional investors and hedge funds have recently bought and sold shares of SRDX. CWM LLC lifted its position in shares of Surmodics by 65.4% during the third quarter. CWM LLC now owns 1,047 shares of the company’s stock worth $31,000 after purchasing an additional 414 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Surmodics by 705.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $37,000 after buying an additional 1,080 shares during the period. BNP Paribas Financial Markets lifted its holdings in Surmodics by 67.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company’s stock worth $43,000 after buying an additional 579 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Surmodics by 289.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company’s stock valued at $51,000 after buying an additional 1,286 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of Surmodics during the third quarter valued at about $60,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Surmodics Stock Performance

Shares of NASDAQ:SRDX opened at $42.98 on Friday. The business has a 50-day moving average of $31.33 and a two-hundred day moving average of $31.56. The firm has a market capitalization of $614.53 million, a PE ratio of -34.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10. Surmodics has a 12 month low of $25.87 and a 12 month high of $43.00.

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).