Gardner Lewis Asset Management L P Raises Stock Position in Surmodics, Inc. (NASDAQ:SRDX)

Gardner Lewis Asset Management L P boosted its position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 23.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 262,878 shares of the company's stock after acquiring an additional 49,944 shares during the period. Surmodics accounts for approximately 2.5% of Gardner Lewis Asset Management L P's portfolio, making the stock its 15th largest holding. Gardner Lewis Asset Management L P owned approximately 1.84% of Surmodics worth $10,410,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new stake in shares of Surmodics during the third quarter worth $6,593,000. Boussard & Gavaudan Investment Management LLP bought a new position in shares of Surmodics in the fourth quarter worth $3,899,000. State Street Corp boosted its stake in Surmodics by 19.2% during the third 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 period. Murchinson Ltd. bought a new stake in shares of Surmodics during the 3rd quarter valued at about $2,133,000. Finally, Mint Tower Capital Management B.V. bought a new position in shares of Surmodics in the fourth quarter worth approximately $1,507,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Surmodics Trading Up 0.9 %

Shares of NASDAQ SRDX traded up $0.28 during midday trading on Tuesday, reaching $30.81. The company had a trading volume of 13,302 shares, compared to its average volume of 277,592. The stock has a market cap of $440.46 million, a PE ratio of -30.50 and a beta of 1.19. Surmodics, Inc. has a one year low of $25.17 and a one year high of $42.44. The firm's fifty day moving average price is $32.74 and its 200-day moving average price is $36.67. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate 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).