Surmodics (NASDAQ:SRDX) Given Market Perform Rating at Barrington Research

Key Points

• Surmodics (NASDAQ:SRDX) received a "market perform" rating from Barrington Research, while Needham & Company LLC reaffirmed a "hold" rating for the stock.
• The company reported a quarterly earnings per share (EPS) of $0.06, surpassing the consensus estimate of ($0.21), and had revenues of $29.57 million for the quarter.
• Institutional investors hold 96.63% of Surmodics' stock, with significant recent investments from firms such as Creative Planning and Thompson Davis & CO. Inc.

Surmodics (NASDAQ:SRDX - Get Free Report)'s stock had its "market perform" rating restated by research analysts at Barrington Research in a research note issued to investors on Monday,Benzinga reports.

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th.

Surmodics Price Performance

Surmodics stock opened at $35.41 on Monday. The firm has a market capitalization of $506.33 million, a PE ratio of -28.79 and a beta of 1.31. Surmodics has a 12-month low of $26.00 and a 12-month high of $41.30. The firm has a 50-day moving average price of $31.27 and a 200-day moving average price of $30.78. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.27. The company had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative net margin of 14.59% and a negative return on equity of 3.04%. As a group, equities research analysts forecast that Surmodics will post 0.2 EPS for the current year.

Institutional Investors Weigh In On Surmodics

Several large investors have recently modified their holdings of the business. Creative Planning bought a new stake in shares of Surmodics in the 2nd quarter valued at about $318,000. Thompson Davis & CO. Inc. bought a new stake in shares of Surmodics in the 2nd quarter valued at about $1,873,000. Geode Capital Management LLC raised its holdings in shares of Surmodics by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 336,239 shares of the company's stock valued at $9,992,000 after purchasing an additional 1,128 shares in the last quarter. Quinn Opportunity Partners LLC raised its holdings in shares of Surmodics by 7.0% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 122,521 shares of the company's stock valued at $3,640,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Surmodics in the 2nd quarter valued at about $1,277,000. 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).

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