Algert Global LLC Acquires New Shares in Surmodics, Inc. (NASDAQ:SRDX)

Algert Global LLC purchased a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,722 shares of the company's stock, valued at approximately $577,000. Algert Global LLC owned about 0.10% of Surmodics at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Surmodics during the fourth quarter worth about $504,000. Mesirow Financial Investment Management Inc. acquired a new position in Surmodics during the first quarter worth about $223,000. BNP Paribas Financial Markets lifted its holdings in shares of Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company's stock worth $202,000 after acquiring an additional 481 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company's stock valued at $151,000 after purchasing an additional 660 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Surmodics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 865,214 shares of the company's stock valued at $25,385,000 after purchasing an additional 5,927 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Performance

SRDX stock traded down $0.11 during midday trading on Monday, reaching $38.31. 29,883 shares of the company's stock traded hands, compared to its average volume of 228,346. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The stock has a market cap of $546.30 million, a P/E ratio of 40.40 and a beta of 1.20. The stock's 50-day moving average is $39.71 and its 200 day moving average is $36.96.

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

Analysts Set New Price Targets

SRDX has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Surmodics in a research note on Sunday. They set a "hold" rating on the stock. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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).