DLD Asset Management LP Makes New $2.51 Million Investment in Surmodics, Inc. (NASDAQ:SRDX)

DLD Asset Management LP 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 63,491 shares of the company's stock, valued at approximately $2,514,000. DLD Asset Management LP owned approximately 0.44% of Surmodics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Diametric Capital LP boosted its stake in Surmodics by 89.6% in the 4th quarter. Diametric Capital LP now owns 20,437 shares of the company's stock worth $809,000 after purchasing an additional 9,659 shares in the last quarter. Gardner Lewis Asset Management L P lifted its stake in shares of Surmodics by 23.5% during the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock worth $10,410,000 after buying an additional 49,944 shares during the period. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Surmodics during the fourth quarter worth $3,899,000. Norges Bank purchased a new stake in shares of Surmodics during the fourth quarter valued at $1,251,000. Finally, JPMorgan Chase & Co. increased its position in shares of Surmodics by 20.1% in the 4th quarter. JPMorgan Chase & Co. now owns 50,990 shares of the company's stock valued at $2,019,000 after acquiring an additional 8,520 shares during the period. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Price Performance

SRDX stock traded down $1.58 during mid-day trading on Monday, reaching $27.75. The company's stock had a trading volume of 38,314 shares, compared to its average volume of 279,214. 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 company's 50 day moving average is $32.16 and its two-hundred day moving average is $36.41. Surmodics, Inc. has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The stock has a market cap of $396.64 million, a PE ratio of -27.47 and a beta of 1.30.

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

Analyst Upgrades and Downgrades

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

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).