Alliancebernstein L.P. Sells 29,168 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Alliancebernstein L.P. decreased its stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,011,262 shares of the company's stock after selling 29,168 shares during the quarter. Alliancebernstein L.P. owned 7.07% of Surmodics worth $40,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp raised its position in Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company's stock valued at $14,506,000 after buying an additional 60,240 shares during the last quarter. Gardner Lewis Asset Management L P grew its stake in Surmodics by 23.5% in the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock valued at $10,410,000 after purchasing an additional 49,944 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Surmodics in the third quarter valued at approximately $6,593,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Surmodics by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 117,904 shares of the company's stock worth $4,669,000 after acquiring an additional 1,593 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP bought a new position in shares of Surmodics during the 4th quarter worth approximately $3,899,000. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Down 3.5 %

SRDX stock traded down $0.99 during trading on Thursday, reaching $27.26. 13,940 shares of the stock were exchanged, compared to its average volume of 279,379. The firm's 50 day moving average is $31.37 and its 200 day moving average is $36.06. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The firm has a market cap of $389.71 million, a P/E ratio of -26.99 and a beta of 1.30.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates 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, research analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SRDX. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a report on Thursday, January 30th. StockNews.com began coverage on Surmodics in a report on Monday, February 3rd. They set a "hold" rating for the company. Finally, Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target for the company in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $50.00.

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).