Surmodics (NASDAQ:SRDX) Rating Increased to Strong-Buy at StockNews.com

Surmodics (NASDAQ:SRDX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Tuesday.

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $47.00 price target on shares of Surmodics in a report on Wednesday, April 10th.

Surmodics Stock Up 0.7 %

SRDX stock traded up $0.18 during mid-day trading on Tuesday, hitting $26.60. 155,354 shares of the company were exchanged, compared to its average volume of 51,550. The company has a market capitalization of $378.78 million, a PE ratio of 70.00 and a beta of 1.01. The company has a current ratio of 4.84, a quick ratio of 3.97 and a debt-to-equity ratio of 0.24. Surmodics has a twelve month low of $16.79 and a twelve month high of $39.41. The firm has a fifty day simple moving average of $29.74 and a 200 day simple moving average of $31.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in shares of Surmodics by 305.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 775 shares of the company's stock valued at $25,000 after buying an additional 584 shares during the period. UBS Group AG lifted its position in Surmodics by 141.1% in the 3rd quarter. UBS Group AG now owns 2,290 shares of the company's stock valued at $70,000 after purchasing an additional 1,340 shares during the last quarter. Captrust Financial Advisors lifted its position in Surmodics by 24.3% in the 1st quarter. Captrust Financial Advisors now owns 2,307 shares of the company's stock valued at $105,000 after purchasing an additional 451 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Surmodics in the 3rd quarter valued at about $87,000. Finally, Citigroup Inc. lifted its position in Surmodics by 1,023.0% in the 2nd quarter. Citigroup Inc. now owns 4,144 shares of the company's stock valued at $130,000 after purchasing an additional 3,775 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

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).

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