Surmodics (NASDAQ:SRDX - Get Free Report) had its target price lowered by equities research analysts at Needham & Company LLC from $47.00 to $43.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 29.01% from the stock's previous close.
Separately, StockNews.com lowered shares of Surmodics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 24th.
Read Our Latest Stock Analysis on Surmodics
Surmodics Stock Performance
Shares of NASDAQ SRDX traded up $7.64 during midday trading on Wednesday, hitting $33.33. The company's stock had a trading volume of 256,562 shares, compared to its average volume of 59,929. Surmodics has a 1-year low of $16.79 and a 1-year high of $39.41. The firm's fifty day moving average price is $28.54 and its 200-day moving average price is $31.62. 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 firm has a market cap of $474.49 million, a P/E ratio of 88.53 and a beta of 1.01.
Institutional Trading of Surmodics
Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Surmodics by 7.5% during the 1st quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company's stock worth $202,000 after buying an additional 481 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Surmodics during the 1st quarter worth about $223,000. Quadrature Capital Ltd bought a new stake in shares of Surmodics during the 4th quarter worth about $504,000. US Bancorp DE raised its position in shares of Surmodics by 61.9% during the 4th quarter. US Bancorp DE now owns 16,190 shares of the company's stock worth $589,000 after buying an additional 6,193 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Surmodics by 15.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,570 shares of the company's stock worth $166,000 after buying an additional 620 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors.
About Surmodics
(
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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