Norges Bank Purchases Shares of 31,600 Surmodics, Inc. (NASDAQ:SRDX)

Norges Bank acquired a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,600 shares of the company's stock, valued at approximately $1,251,000. Norges Bank owned approximately 0.22% of Surmodics at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SRDX. State Street Corp increased its holdings in shares of Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company's stock valued at $14,506,000 after purchasing an additional 60,240 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Surmodics in the 3rd quarter valued at approximately $6,593,000. Charles Schwab Investment Management Inc. lifted its position in Surmodics by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 117,904 shares of the company's stock worth $4,669,000 after buying an additional 1,593 shares in the last quarter. Barclays PLC boosted its stake in shares of Surmodics by 16.0% during the 3rd quarter. Barclays PLC now owns 88,750 shares of the company's stock valued at $3,443,000 after buying an additional 12,271 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Surmodics by 14.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 57,627 shares of the company's stock valued at $2,284,000 after acquiring an additional 7,279 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective for the company in a research report on Friday, March 7th. StockNews.com assumed coverage on Surmodics in a report on Monday, February 3rd. They set a "hold" rating for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Surmodics in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Surmodics has a consensus rating of "Hold" and a consensus price target of $50.00.

Surmodics Stock Down 1.3 %

Shares of NASDAQ:SRDX traded down $0.38 on Thursday, reaching $27.77. The company had a trading volume of 13,891 shares, compared to its average volume of 278,042. The stock has a market capitalization of $396.93 million, a P/E ratio of -27.88 and a beta of 1.30. The stock has a 50-day moving average price of $30.79 and a 200 day moving average price of $35.71. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. 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 posted its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping 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%. On average, equities analysts expect that Surmodics, Inc. will post 0.2 EPS for the current year.

About Surmodics

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).