Surmodics (NASDAQ:SRDX) Rating Reiterated by Needham & Company LLC

by · The Cerbat Gem

Needham & Company LLC reiterated their buy rating on shares of Surmodics (NASDAQ:SRDX – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $47.00 target price on the stock.

Separately, StockNews.com raised Surmodics from a hold rating to a buy rating in a research note on Thursday, December 14th.

Get Our Latest Research Report on Surmodics

Surmodics Trading Down 2.5 %

SRDX opened at $27.00 on Wednesday. The stock has a market cap of $384.48 million, a price-to-earnings ratio of 71.05 and a beta of 1.01. The stock’s 50 day moving average price is $29.91 and its 200-day moving average price is $32.02. Surmodics has a one year low of $16.79 and a one year high of $39.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.97 and a current ratio of 4.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SRDX. Kennedy Capital Management LLC grew its stake in Surmodics by 227.7% in the second quarter. Kennedy Capital Management LLC now owns 293,359 shares of the company’s stock worth $9,185,000 after purchasing an additional 203,832 shares in the last quarter. Susquehanna International Group LLP bought a new position in Surmodics in the first quarter worth approximately $4,585,000. Arrowstreet Capital Limited Partnership bought a new position in Surmodics in the first quarter worth approximately $2,650,000. Jane Street Group LLC bought a new position in Surmodics in the first quarter worth approximately $2,059,000. Finally, Cubist Systematic Strategies LLC bought a new position in Surmodics in the first quarter worth approximately $1,763,000. Institutional investors own 96.63% of the company’s stock.

Surmodics Company Profile

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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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