Surmodics (NASDAQ:SRDX) Sees Unusually-High Trading Volume

Surmodics, Inc. (NASDAQ:SRDXGet Free Report) shares saw an uptick in trading volume on Wednesday . 48,851 shares were traded during mid-day trading, a decline of 58% from the previous session’s volume of 117,244 shares.The stock last traded at $42.00 and had previously closed at $41.97.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SRDX shares. Barrington Research restated a “market perform” rating on shares of Surmodics in a research report on Thursday, May 30th. StockNews.com cut Surmodics from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. Lake Street Capital reiterated a “hold” rating and issued a $43.00 target price on shares of Surmodics in a research note on Wednesday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Wednesday, May 29th. Finally, Sidoti restated a “neutral” rating and issued a $43.00 price target on shares of Surmodics in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Read Our Latest Report on Surmodics

Surmodics Stock Performance

The stock’s 50-day moving average is $31.16 and its 200-day moving average is $32.41. The stock has a market cap of $598.78 million, a price-to-earnings ratio of 44.18 and a beta of 1.18. The company has a current ratio of 4.39, a quick ratio of 3.59 and a debt-to-equity ratio of 0.24.

Surmodics (NASDAQ:SRDXGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $28.79 million. During the same period in the previous year, the company posted ($0.40) earnings per share. On average, analysts expect that Surmodics, Inc. will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its holdings in shares of Surmodics by 18.8% during the 3rd 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. Vanguard Group Inc. raised its stake in shares of Surmodics by 2.4% during the third quarter. Vanguard Group Inc. now owns 846,164 shares of the company’s stock valued at $27,153,000 after purchasing an additional 19,635 shares during the period. Moody National Bank Trust Division raised its stake in shares of Surmodics by 14.8% during the fourth quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock valued at $376,000 after purchasing an additional 1,331 shares during the period. SG Americas Securities LLC acquired a new position in shares of Surmodics during the fourth quarter worth $163,000. Finally, Salem Investment Counselors Inc. boosted its stake 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 purchasing an additional 1,700 shares during the period. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Company Profile

(Get Free Report)

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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