Surmodics (NASDAQ:SRDX) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of Surmodics (NASDAQ:SRDX) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

Separately, Needham & Company LLC restated a buy rating and set a $47.00 price objective on shares of Surmodics in a report on Wednesday, April 10th.

Surmodics Stock Performance

SRDX opened at $26.07 on Wednesday. Surmodics has a 52-week low of $16.79 and a 52-week 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. The company has a market cap of $371.24 million, a P/E ratio of 68.61 and a beta of 1.01. The firm’s 50-day moving average price is $29.00 and its 200-day moving average price is $31.75.

Institutional Investors Weigh In On Surmodics

Large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its position in Surmodics by 149.2% in the third quarter. Los Angeles Capital Management LLC now owns 34,916 shares of the company’s stock valued at $1,120,000 after buying an additional 20,906 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in Surmodics in the third quarter valued at approximately $683,000. Acadian Asset Management LLC boosted its position 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 buying an additional 56,012 shares during the last quarter. Moody National Bank Trust Division boosted its position in Surmodics by 14.8% in the fourth quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock valued at $376,000 after buying an additional 1,331 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Surmodics in the 4th quarter worth approximately $163,000. Hedge funds and other 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).