Surmodics (NASDAQ:SRDX) Sees Unusually-High Trading Volume – Still a Buy?

Surmodics, Inc. (NASDAQ:SRDX) saw unusually-strong trading volume on Wednesday . Approximately 237,948 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 188,761 shares.The stock last traded at $41.40 and had previously closed at $40.94.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a research note on Monday, August 11th. Finally, Zacks Research raised shares of Surmodics to a “hold” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Surmodics currently has an average rating of “Hold” and an average price target of $43.00.

Surmodics Trading Up 1.0%

The stock’s fifty day moving average price is $29.78 and its 200 day moving average price is $30.84. The stock has a market cap of $591.22 million, a P/E ratio of -33.62 and a beta of 1.30. The company has a current ratio of 3.91, a quick ratio of 3.10 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake 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 acquiring an additional 414 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Surmodics by 705.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 1,080 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Surmodics by 67.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,435 shares of the company’s stock worth $43,000 after purchasing an additional 579 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Surmodics by 289.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company’s stock valued at $51,000 after purchasing an additional 1,286 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Surmodics during the 3rd quarter valued at about $101,000. Hedge funds and other 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).