StockNews.com Upgrades Surmodics (NASDAQ:SRDX) to “Strong-Buy”

Surmodics (NASDAQ:SRDX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $47.00 target price on shares of Surmodics in a research note on Wednesday, April 10th.

Surmodics Stock Performance

Shares of Surmodics stock opened at $26.52 on Tuesday. The business’s fifty day simple moving average is $29.65 and its 200 day simple moving average is $31.92. 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 12 month low of $16.79 and a 12 month high of $39.41. The firm has a market capitalization of $377.54 million, a P/E ratio of 69.79 and a beta of 1.01.

Institutional Investors Weigh In On Surmodics

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in Surmodics by 305.8% during 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 in the last quarter. UBS Group AG increased its holdings in shares of Surmodics by 141.1% during the third quarter. UBS Group AG now owns 2,290 shares of the company’s stock valued at $70,000 after acquiring an additional 1,340 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Surmodics in the 3rd quarter worth about $87,000. Captrust Financial Advisors raised its position in shares of Surmodics by 24.3% in the 1st quarter. Captrust Financial Advisors now owns 2,307 shares of the company’s stock worth $105,000 after purchasing an additional 451 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in Surmodics by 1,023.0% in the 2nd quarter. Citigroup Inc. now owns 4,144 shares of the company’s stock worth $130,000 after purchasing an additional 3,775 shares in the last quarter. 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).