Cigogne Management SA Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Cigogne Management SA purchased a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 78,500 shares of the company's stock, valued at approximately $3,109,000. Surmodics comprises about 1.8% of Cigogne Management SA's investment portfolio, making the stock its 13th biggest position. Cigogne Management SA owned about 0.55% of Surmodics at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Surmodics by 19.2% during the 3rd quarter. State Street Corp now owns 374,068 shares of the company's stock worth $14,506,000 after acquiring an additional 60,240 shares during the period. Gabelli Funds LLC raised its stake in Surmodics by 3.7% during the fourth quarter. Gabelli Funds LLC now owns 339,959 shares of the company's stock worth $13,462,000 after purchasing an additional 12,250 shares during the period. Gardner Lewis Asset Management L P boosted its holdings in Surmodics by 23.5% in the 4th 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 during the last quarter. Hsbc Holdings PLC grew its stake in shares of Surmodics by 2.9% in the 4th quarter. Hsbc Holdings PLC now owns 254,698 shares of the company's stock valued at $10,082,000 after buying an additional 7,163 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Surmodics during the 3rd quarter worth approximately $6,593,000. Hedge funds and other institutional investors own 96.63% of the company's stock.

Wall Street Analyst Weigh In

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

Surmodics Trading Up 0.2 %

Surmodics stock traded up $0.06 during trading on Friday, hitting $29.46. The company had a trading volume of 50,560 shares, compared to its average volume of 279,247. The stock has a market cap of $421.16 million, a price-to-earnings ratio of -29.17 and a beta of 1.30. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. 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.

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

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).