Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Surmodics, Inc. (NASDAQ:SRDX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 165.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 30,000 shares of the company's stock after purchasing an additional 18,692 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.21% of Surmodics worth $1,188,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new stake in shares of Surmodics during the third quarter worth $6,593,000. Principal Financial Group Inc. purchased a new position in Surmodics during the 3rd quarter worth $1,190,000. 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. purchased a new stake in shares of Surmodics in the third quarter valued at about $2,133,000. Finally, State Street Corp increased its stake in shares of Surmodics by 19.2% during the third quarter. State Street Corp now owns 374,068 shares of the company's stock worth $14,506,000 after acquiring an additional 60,240 shares during the period. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a report on Thursday, January 30th. Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target on the stock in a research note on Friday, March 7th. Finally, StockNews.com assumed coverage on Surmodics in a research report on Monday, February 3rd. They issued a "hold" rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $50.00.

Surmodics Price Performance

Shares of SRDX stock traded up $0.14 during midday trading on Friday, reaching $30.75. 43,450 shares of the company traded hands, compared to its average volume of 279,338. The firm's 50 day simple moving average is $32.87 and its two-hundred day simple moving average is $36.73. The firm has a market cap of $439.60 million, a PE ratio of -30.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. 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 issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) 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 research analysts expect that Surmodics, Inc. will post 0.2 EPS 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).