Surmodics, Inc. (NASDAQ:SRDX) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,305 shares of the company's stock after selling 23,900 shares during the quarter. Royce & Associates LP owned about 0.30% of Surmodics worth $1,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SRDX. Principal Financial Group Inc. purchased a new position in Surmodics in the third quarter valued at $1,190,000. Oddo BHF Asset Management Sas acquired a new position in shares of Surmodics in the third quarter valued at approximately $6,593,000. JPMorgan Chase & Co. lifted its stake in shares of Surmodics by 192.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company's stock worth $1,647,000 after acquiring an additional 27,960 shares during the period. Murchinson Ltd. acquired a new position in Surmodics during the third quarter worth $2,133,000. Finally, State Street Corp boosted its position in shares of Surmodics by 19.2% during the 3rd quarter. State Street Corp now owns 374,068 shares of the company's stock worth $14,506,000 after purchasing an additional 60,240 shares in the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SRDX. StockNews.com began coverage on shares of Surmodics in a research report on Monday, February 3rd. They issued a "hold" rating on the stock. Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective on the stock in a research note on Friday, March 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.00.

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Surmodics Stock Up 1.6 %

Shares of NASDAQ SRDX traded up $0.49 during midday trading on Tuesday, reaching $30.91. 257,426 shares of the company's stock were exchanged, compared to its average volume of 172,433. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The business's fifty day moving average price is $33.33 and its two-hundred day moving average price is $36.97. The stock has a market capitalization of $441.89 million, a PE ratio of -30.60 and a beta of 1.19.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current 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).