ClearAlpha Technologies LP Increases Stake in Surmodics, Inc. (NASDAQ:SRDX)

ClearAlpha Technologies LP grew its holdings in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,152 shares of the company's stock after purchasing an additional 10,000 shares during the period. Surmodics makes up about 1.6% of ClearAlpha Technologies LP's holdings, making the stock its 16th biggest position. ClearAlpha Technologies LP owned about 0.42% of Surmodics worth $2,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Modus Advisors LLC purchased a new stake in shares of Surmodics in the 4th quarter valued at about $40,000. R Squared Ltd purchased a new stake in shares of Surmodics during the 4th quarter valued at $55,000. Legal & General Group Plc lifted its holdings in shares of Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock worth $137,000 after acquiring an additional 880 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in Surmodics in the fourth quarter worth $255,000. Finally, SG Americas Securities LLC increased its stake in Surmodics by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company's stock valued at $275,000 after acquiring an additional 1,255 shares during the last quarter. 96.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SRDX has been the subject of several recent research reports. StockNews.com started coverage on shares of Surmodics in a research note on Monday, February 3rd. They issued a "hold" rating for the company. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research report on Thursday, January 30th. Finally, Lake Street Capital upgraded 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $50.00.

Surmodics Stock Up 2.8 %

NASDAQ SRDX traded up $0.80 during mid-day trading on Thursday, reaching $29.40. The stock had a trading volume of 94,700 shares, compared to its average volume of 278,146. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The stock has a market cap of $420.30 million, a PE ratio of -29.11 and a beta of 1.30. The company has a fifty day moving average price of $30.09 and a 200 day moving average price of $35.30.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its 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 net margin of 11.48% and a negative return on equity of 4.39%. On average, research analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Surmodics Company 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).