Phocas Financial Corp. Invests $3.43 Million in Surmodics, Inc. (NASDAQ:SRDX)

Phocas Financial Corp. purchased a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 88,460 shares of the company's stock, valued at approximately $3,430,000. Phocas Financial Corp. owned approximately 0.62% of Surmodics as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SRDX. Renaissance Technologies LLC raised its holdings in shares of Surmodics by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 606,538 shares of the company's stock valued at $25,499,000 after purchasing an additional 28,990 shares during the period. Gardner Lewis Asset Management L P acquired a new stake in shares of Surmodics in the second quarter valued at approximately $8,531,000. Sagefield Capital LP bought a new position in shares of Surmodics during the 2nd quarter worth approximately $2,350,000. Trium Capital LLP acquired a new position in shares of Surmodics during the 2nd quarter worth approximately $1,406,000. Finally, Bailard Inc. bought a new stake in Surmodics in the 2nd quarter valued at $257,000. Institutional investors and hedge funds own 96.63% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research report on Thursday, November 7th. StockNews.com began coverage on Surmodics in a report on Friday. They set a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Surmodics has a consensus rating of "Hold" and an average target price of $50.00.

Surmodics Trading Down 0.3 %

NASDAQ SRDX traded down $0.10 on Tuesday, hitting $39.15. The company's stock had a trading volume of 69,358 shares, compared to its average volume of 229,981. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The company's 50-day moving average is $38.50 and its 200 day moving average is $39.28. The firm has a market cap of $558.55 million, a PE ratio of -48.33 and a beta of 1.20.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $33.23 million during the quarter, compared to analysts' expectations of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.77%. As a group, 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).