Surmodics, Inc. (NASDAQ:SRDX) Holdings Lifted by Algert Global LLC

Algert Global LLC increased its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 29.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,820 shares of the company’s stock after acquiring an additional 4,098 shares during the period. Algert Global LLC’s holdings in Surmodics were worth $691,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SRDX. Quest Partners LLC increased its stake in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares during the period. Lazard Asset Management LLC increased its stake in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after acquiring an additional 673 shares during the last quarter. Hardin Capital Partners LLC purchased a new stake in shares of Surmodics during the second quarter worth $206,000. SG Americas Securities LLC acquired a new stake in Surmodics during the third quarter valued at $220,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Surmodics in the second quarter valued at about $229,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Surmodics Stock Performance

Surmodics stock opened at $39.45 on Friday. The firm has a market capitalization of $565.32 million, a P/E ratio of -48.72 and a beta of 1.20. The stock has a fifty day moving average price of $38.51 and a two-hundred day moving average price of $39.58. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.96 and a quick ratio of 3.22.

Surmodics (NASDAQ:SRDX) last released 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. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The business had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $30.69 million. As a group, analysts anticipate that Surmodics, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com started coverage on Surmodics in a research note on Saturday, November 23rd. They set a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.00.

Insider Buying and Selling

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the sale, the chief financial officer now directly owns 70,350 shares of the company’s stock, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.90% of the stock is currently owned by corporate insiders.

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).