Needham Believes SurModics (NASDAQ: SRDX) Won’t Stop Here

In a report released today, Michael Matson from Needham maintained a Buy rating on SurModics (SRDXResearch Report), with a price target of $61.00. The company’s shares closed last Wednesday at $48.48, close to its 52-week high of $48.94.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.5% and a 61.0% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

SurModics has an analyst consensus of Strong Buy, with a price target consensus of $66.33.

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The company has a one-year high of $48.94 and a one-year low of $22.06. Currently, SurModics has an average volume of 63.37K.

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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.