Principal Financial Group Inc. Purchases Shares of 30,696 Surmodics, Inc. (NASDAQ:SRDX)

Principal Financial Group Inc. acquired a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 30,696 shares of the company's stock, valued at approximately $1,190,000. Principal Financial Group Inc. owned 0.22% of Surmodics as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Hardin Capital Partners LLC purchased a new position in shares of Surmodics during the 2nd quarter worth approximately $206,000. SG Americas Securities LLC lifted its position in Surmodics by 14.7% during the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company's stock valued at $151,000 after buying an additional 660 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Surmodics during the 2nd quarter valued at $229,000. Lazard Asset Management LLC grew its position in shares of Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company's stock worth $166,000 after buying an additional 673 shares during the period. Finally, Bailard Inc. bought a new position in shares of Surmodics in the 2nd quarter worth about $257,000. 96.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a report on Thursday, November 7th. StockNews.com began coverage on Surmodics in a research note on Saturday. They issued a "hold" rating on the stock. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $50.00.

Surmodics Stock Up 0.4 %

Shares of SRDX traded up $0.14 on Friday, hitting $39.33. 174,407 shares of the stock traded hands, compared to its average volume of 230,504. The company has a market capitalization of $563.44 million, a PE ratio of -48.56 and a beta of 1.20. Surmodics, Inc. has a one year low of $25.17 and a one year high of $42.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The business has a 50 day simple moving average of $38.49 and a 200 day simple moving average of $39.48.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced 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. The firm had revenue of $33.23 million for the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. As a group, equities analysts forecast that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal 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).