Los Angeles Capital Management LLC Has $1.08 Million Stock Position in Surmodics, Inc. (NASDAQ:SRDX)

Los Angeles Capital Management LLC cut its position in Surmodics, Inc. (NASDAQ:SRDX) by 23.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,950 shares of the company’s stock after selling 8,475 shares during the period. Los Angeles Capital Management LLC’s holdings in Surmodics were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hardin Capital Partners LLC bought a new position in shares of Surmodics in the second quarter valued at approximately $206,000. SG Americas Securities LLC raised its position in Surmodics by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after purchasing an additional 660 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Surmodics in the second quarter worth $229,000. Lazard Asset Management LLC grew its holdings in shares of Surmodics by 13.4% during the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after purchasing an additional 673 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Surmodics in the second quarter valued at $257,000. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SRDX shares. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. StockNews.com assumed coverage on shares of Surmodics in a research note on Friday. They set a “hold” rating on the stock. Five investment 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 price target of $50.00.

Surmodics Price Performance

Shares of SRDX stock opened at $38.09 on Friday. The firm has a market cap of $543.54 million, a price-to-earnings ratio of -47.02 and a beta of 1.20. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44. The company has a quick ratio of 3.22, a current ratio of 3.98 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $38.51 and a 200 day moving average price of $39.02.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.77%. The company had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $30.69 million. Research analysts expect that Surmodics, Inc. will post 0.17 EPS for the current year.

Surmodics Company 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).