Credit Industriel ET Commercial Invests $2.24 Million in Surmodics, Inc. (NASDAQ:SRDX)

Credit Industriel ET Commercial purchased a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 56,500 shares of the company's stock, valued at approximately $2,237,000. Credit Industriel ET Commercial owned approximately 0.40% of Surmodics at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Cigogne Management SA purchased a new stake in Surmodics during the 4th quarter valued at about $3,109,000. Price T Rowe Associates Inc. MD acquired a new position in Surmodics in the 4th quarter worth about $217,000. Alpine Global Management LLC purchased a new position in shares of Surmodics during the 4th quarter valued at approximately $1,980,000. Hsbc Holdings PLC lifted its holdings in Surmodics by 2.9% during the fourth quarter. Hsbc Holdings PLC now owns 254,698 shares of the company's stock valued at $10,082,000 after purchasing an additional 7,163 shares in the last quarter. Finally, ClearAlpha Technologies LP boosted its holdings in Surmodics by 19.9% in the 4th quarter. ClearAlpha Technologies LP now owns 60,152 shares of the company's stock worth $2,382,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company's stock.

Analyst Upgrades and Downgrades

SRDX has been the subject of a number of research reports. StockNews.com began coverage on shares of Surmodics in a report on Monday, February 3rd. They set a "hold" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research note on Thursday, January 30th. Finally, Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target on the stock in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Surmodics currently has an average rating of "Hold" and an average price target of $50.00.

Surmodics Stock Up 0.2 %

Shares of SRDX traded up $0.06 during midday trading on Friday, hitting $29.46. The company had a trading volume of 50,560 shares, compared to its average volume of 279,247. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The company's 50-day simple moving average is $30.00 and its 200-day simple moving average is $35.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The firm has a market capitalization of $421.16 million, a P/E ratio of -29.17 and a beta of 1.30.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. As a group, sell-side analysts expect that Surmodics, Inc. will post 0.2 EPS for the current year.

Surmodics 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).