Surmodics (NASDAQ:SRDX) Stock Price Crosses Above 200 Day Moving Average of $32.01

Surmodics, Inc. (NASDAQ:SRDX - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $32.01 and traded as high as $35.22. Surmodics shares last traded at $34.89, with a volume of 20,835 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SRDX shares. Needham & Company LLC cut their price target on Surmodics from $47.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, May 1st. StockNews.com lowered Surmodics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 24th. Finally, Barrington Research reissued an "outperform" rating and issued a $71.00 target price on shares of Surmodics in a research note on Thursday, May 2nd.

Surmodics Stock Up 1.1 %

The firm has a 50 day simple moving average of $29.23 and a two-hundred day simple moving average of $32.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59. The stock has a market cap of $502.95 million, a price-to-earnings ratio of 37.13 and a beta of 1.04.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.43. The firm had revenue of $31.96 million for the quarter, compared to analyst estimates of $28.79 million. Surmodics had a return on equity of 13.30% and a net margin of 9.44%. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. As a group, sell-side analysts expect that Surmodics, Inc. will post -0.52 EPS for the current year.

Institutional Investors Weigh In On Surmodics

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of 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 period. Hillsdale Investment Management Inc. raised its position in shares of Surmodics by 15.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company's stock worth $166,000 after purchasing an additional 620 shares during the period. SG Americas Securities LLC raised its position in shares of Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company's stock worth $151,000 after purchasing an additional 660 shares during the period. Lazard Asset Management LLC raised its position in shares of Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company's stock worth $166,000 after purchasing an additional 673 shares during the period. Finally, Moody National Bank Trust Division raised its position 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 worth $376,000 after purchasing an additional 1,331 shares during the period. 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).