Barrington Believes SurModics (SRDX) Still Has Room to Grow


Barrington analyst Michael Petusky maintained a Buy rating on SurModics (SRDX) today and set a price target of $70.00. The company’s shares closed last Tuesday at $52.19, close to its 52-week high of $54.28.

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 15.2% and a 57.3% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Varian Medical Systems, Anika Therapeutics, and Lemaitre Vascular.

Currently, the analyst consensus on SurModics is a Moderate Buy with an average price target of $65.50, which is a 40.2% upside from current levels. In a report released yesterday, Needham also reiterated a Buy rating on the stock with a $61.00 price target.

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SurModics’ market cap is currently $714.1M and has a P/E ratio of 572.40. The company has a Price to Book ratio of 6.92.

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SurModics, Inc. engages in the provision of medical device and in vitro diagnostic technologies to the healthcare industry. It operates through the Medical Device and In Vitro Diagnostics segments. The Medical Device segment designs, develops, and manufactures interventional medical devices, surface modification coating technologies, as well as drug-delivery coating technologies. The In Vitro Diagnostics segment consists of component products and technologies for diagnostic test kits and biomedical research applications. The company was founded in June 1979 and is headquartered in Eden Prairie, MN.

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