Russell Investments Group Ltd. Sells 22,472 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Russell Investments Group Ltd. trimmed its holdings in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,618 shares of the company's stock after selling 22,472 shares during the period. Russell Investments Group Ltd. owned 0.22% of Surmodics worth $1,252,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new position in shares of Surmodics in the third quarter valued at about $6,593,000. Principal Financial Group Inc. bought a new stake in shares of Surmodics during the third quarter worth approximately $1,190,000. JPMorgan Chase & Co. grew its position in shares of Surmodics by 192.7% in the third quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company's stock valued at $1,647,000 after purchasing an additional 27,960 shares during the last quarter. State Street Corp grew its position in shares of Surmodics by 19.2% in the third quarter. State Street Corp now owns 374,068 shares of the company's stock valued at $14,506,000 after purchasing an additional 60,240 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Surmodics by 16.0% during the 3rd quarter. Barclays PLC now owns 88,750 shares of the company's stock worth $3,443,000 after purchasing an additional 12,271 shares during the last quarter. Institutional investors own 96.63% of the company's stock.

Analysts Set New Price Targets

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

Surmodics Price Performance

Surmodics stock traded down $0.90 during midday trading on Friday, reaching $28.50. The company's stock had a trading volume of 14,747 shares, compared to its average volume of 277,097. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The stock has a market cap of $407.44 million, a PE ratio of -28.22 and a beta of 1.30. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44. The business has a 50-day moving average price of $30.09 and a 200-day moving average price of $35.30.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates 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, sell-side analysts predict 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).