Surmodics (NASDAQ:SRDX) Given "Outperform" Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Surmodics (NASDAQ:SRDX - Free Report) in a research report report published on Thursday morning, Benzinga reports. They currently have a $71.00 target price on the stock.

Several other brokerages have also recently weighed in on SRDX. Needham & Company LLC reduced 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. StockNews.com cut Surmodics from a strong-buy rating to a buy rating in a research note on Wednesday, April 24th.

Surmodics Trading Up 3.7 %

Shares of SRDX traded up $1.22 during mid-day trading on Thursday, hitting $34.55. 368,428 shares of the company's stock traded hands, compared to its average volume of 63,706. The firm has a market capitalization of $491.99 million, a P/E ratio of 92.27 and a beta of 1.04. The business's 50-day moving average price is $28.58 and its 200-day moving average price is $31.63. Surmodics has a 1 year low of $16.79 and a 1 year high of $39.41. The company has a quick ratio of 3.97, a current ratio of 4.84 and a debt-to-equity ratio of 0.24.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.43. The company had revenue of $31.96 million for the quarter, compared to analysts' expectations of $28.79 million. Surmodics had a return on equity of 8.06% and a net margin of 3.99%. During the same period in the prior year, the firm earned ($0.40) earnings per share. As a group, sell-side analysts forecast that Surmodics will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Surmodics by 2.4% in the third quarter. Vanguard Group Inc. now owns 846,164 shares of the company's stock valued at $27,153,000 after acquiring an additional 19,635 shares during the period. Acadian Asset Management LLC lifted its holdings in Surmodics by 18.8% in the third quarter. Acadian Asset Management LLC now owns 354,738 shares of the company's stock valued at $11,377,000 after acquiring an additional 56,012 shares during the period. Salem Investment Counselors Inc. lifted its holdings in 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 acquiring an additional 1,700 shares during the period. Russell Investments Group Ltd. lifted its holdings in Surmodics by 6.4% in the fourth quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company's stock valued at $2,466,000 after acquiring an additional 4,066 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of Surmodics by 109.8% in the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company's stock worth $1,624,000 after buying an additional 23,379 shares during the period. Institutional investors own 96.63% of the company's stock.

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).