Sagefield Capital LP Takes $2.35 Million Position in Surmodics, Inc. (NASDAQ:SRDX)

Sagefield Capital LP bought a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 55,900 shares of the company's stock, valued at approximately $2,350,000. Sagefield Capital LP owned about 0.39% of Surmodics as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC increased its position in Surmodics by 11.3% during the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company's stock worth $11,988,000 after purchasing an additional 41,617 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Surmodics by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company's stock worth $25,499,000 after buying an additional 28,990 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in shares of Surmodics during the 2nd quarter valued at approximately $8,531,000. Trium Capital LLP acquired a new position in Surmodics in the second quarter valued at approximately $1,406,000. Finally, Bailard Inc. purchased a new position in Surmodics in the second quarter worth approximately $257,000. Hedge funds and other institutional investors own 96.63% of the company's stock.

Analyst Upgrades and Downgrades

SRDX has been the topic of a number of research analyst reports. Sidoti restated a "neutral" rating and issued a $43.00 target price on shares of Surmodics in a research report on Wednesday, May 29th. Barrington Research reaffirmed a "market perform" rating on shares of Surmodics in a research report on Thursday, May 30th. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research report on Monday, August 5th. Lake Street Capital reissued a "hold" rating and issued a $43.00 price target on shares of Surmodics in a research note on Wednesday, May 29th. Finally, StockNews.com began coverage on shares of Surmodics in a research report on Friday. They set a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $50.00.

Surmodics Trading Down 0.6 %

NASDAQ:SRDX traded down $0.22 on Tuesday, reaching $39.12. 131,117 shares of the company's stock were exchanged, compared to its average volume of 232,184. The firm has a market capitalization of $557.85 million, a price-to-earnings ratio of 41.35 and a beta of 1.20. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $40.29 and a 200-day moving average of $36.34.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $30.32 million. As a group, analysts expect that Surmodics, Inc. will post -0.47 earnings per share for the current year.

Surmodics 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).