Diametric Capital LP Increases Position in Surmodics, Inc. (NASDAQ:SRDX)

Diametric Capital LP increased its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 89.6% during the fourth quarter, Holdings Channel reports. The fund owned 20,437 shares of the company’s stock after acquiring an additional 9,659 shares during the quarter. Diametric Capital LP’s holdings in Surmodics were worth $809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings 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 purchasing an additional 60,240 shares during the last quarter. Gardner Lewis Asset Management L P lifted its position in Surmodics by 23.5% during the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock worth $10,410,000 after buying an additional 49,944 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Surmodics in the 3rd quarter worth about $6,593,000. Charles Schwab Investment Management Inc. boosted its stake in Surmodics by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 117,904 shares of the company’s stock worth $4,669,000 after buying an additional 1,593 shares during the last quarter. Finally, Boussard & Gavaudan Investment Management LLP purchased a new stake in Surmodics in the 4th quarter valued at about $3,899,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Stock Performance

NASDAQ SRDX opened at $30.53 on Tuesday. The business’s 50-day simple moving average is $32.74 and its 200-day simple moving average is $36.67. The firm has a market capitalization of $436.46 million, a P/E ratio of -30.23 and a beta of 1.19. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. 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 (NASDAQ:SRDX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Equities analysts predict that Surmodics, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

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

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).