Surmodics (NASDAQ:SRDX) Hits New 1-Year High – Here’s What Happened

Surmodics, Inc. (NASDAQ:SRDX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.75 and last traded at $42.8220, with a volume of 443603 shares traded. The stock had previously closed at $41.41.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Surmodics in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Surmodics to a “hold” rating in a research note on Tuesday, August 12th. Finally, Barrington Research reissued an “underperform” rating on shares of Surmodics in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Surmodics currently has a consensus rating of “Reduce” and an average target price of $43.00.

Surmodics Price Performance

The stock has a market cap of $614.53 million, a P/E ratio of -34.94 and a beta of 1.30. The business has a 50 day simple moving average of $30.68 and a 200-day simple moving average of $31.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.10 and a current ratio of 3.91.

Institutional Trading of Surmodics

Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in shares of Surmodics by 65.4% in the third quarter. CWM LLC now owns 1,047 shares of the company’s stock worth $31,000 after purchasing an additional 414 shares during the period. Royce & Associates LP boosted its stake in Surmodics by 1.0% during the third quarter. Royce & Associates LP now owns 42,721 shares of the company’s stock valued at $1,277,000 after buying an additional 416 shares during the period. BNP Paribas Financial Markets grew its position in Surmodics by 67.6% during the second quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company’s stock worth $43,000 after buying an additional 579 shares in the last quarter. Russell Investments Group Ltd. grew its position in Surmodics by 705.9% during the second quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $37,000 after buying an additional 1,080 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Surmodics by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 336,239 shares of the company’s stock worth $9,992,000 after acquiring an additional 1,128 shares during the last quarter. Institutional investors 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).