Oddo BHF Asset Management Sas Takes Position in Surmodics, Inc. (NASDAQ:SRDX)

Oddo BHF Asset Management Sas bought a new stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 170,000 shares of the company's stock, valued at approximately $6,593,000. Oddo BHF Asset Management Sas owned 1.19% of Surmodics at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SRDX. Principal Financial Group Inc. acquired a new position in Surmodics in the 3rd quarter valued at approximately $1,190,000. Renaissance Technologies LLC increased its stake in shares of Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company's stock worth $25,499,000 after acquiring an additional 28,990 shares during the last quarter. Sagefield Capital LP purchased a new stake in shares of Surmodics during the second quarter worth $2,350,000. Gardner Lewis Asset Management L P acquired a new stake in Surmodics during the second quarter valued at $8,531,000. Finally, Trium Capital LLP purchased a new position in Surmodics in the second quarter valued at about $1,406,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Timothy J. Arens sold 7,009 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the sale, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Thursday, November 7th. StockNews.com began coverage on shares of Surmodics in a research report on Monday. They issued a "hold" rating for the company. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $50.00.

Surmodics Stock Performance

SRDX traded up $0.04 on Friday, hitting $40.03. The company had a trading volume of 152,628 shares, compared to its average volume of 226,081. The stock has a market cap of $573.63 million, a price-to-earnings ratio of -49.37 and a beta of 1.22. 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 company's fifty day moving average price is $38.74 and its 200 day moving average price is $39.98. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. The company had revenue of $33.23 million during the quarter, compared to analysts' expectations of $30.69 million. Equities analysts predict that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal 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).