Murchinson Ltd. purchased a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 55,000 shares of the company's stock, valued at approximately $2,133,000. Surmodics makes up about 0.6% of Murchinson Ltd.'s investment portfolio, making the stock its 22nd biggest holding. Murchinson Ltd. owned 0.39% of Surmodics at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in SRDX. ClearAlpha Technologies LP grew its stake in Surmodics by 99.2% in the 3rd quarter. ClearAlpha Technologies LP now owns 50,152 shares of the company's stock valued at $1,945,000 after acquiring an additional 24,979 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Surmodics in the 3rd quarter valued at about $67,000. Algert Global LLC grew its stake in Surmodics by 29.9% in the 3rd quarter. Algert Global LLC now owns 17,820 shares of the company's stock valued at $691,000 after acquiring an additional 4,098 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Surmodics by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company's stock worth $4,511,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new stake in shares of Surmodics during the 3rd quarter worth about $3,430,000. Hedge funds and other institutional investors own 96.63% of the company's stock.
Surmodics Stock Performance
SRDX traded up $0.41 on Wednesday, hitting $39.90. The company had a trading volume of 64,315 shares, compared to its average volume of 227,239. The company's fifty day moving average price is $38.53 and its 200 day moving average price is $39.80. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22. The stock has a market cap of $571.77 million, a price-to-earnings ratio of -48.75 and a beta of 1.22.
Surmodics (NASDAQ:SRDX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The firm had revenue of $33.23 million during the quarter, compared to analyst estimates of $30.69 million. Equities analysts predict that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.
Analyst Ratings Changes
SRDX has been the topic of several research reports. StockNews.com initiated coverage on shares of Surmodics in a report on Sunday. They issued a "hold" rating on the stock. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $50.00.
View Our Latest Report on Surmodics
Insider Transactions at Surmodics
In related news, CFO Timothy J. Arens sold 7,009 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total value of $276,434.96. Following the completion of the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. This represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.90% of the company's stock.
About Surmodics
(
Free Report)
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).
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