Russell Investments Group Ltd. grew its position in shares of Surmodics, Inc. (NASDAQ:SRDX – Free Report) by 181.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 53,786 shares of the company’s stock after purchasing an additional 34,678 shares during the quarter. Russell Investments Group Ltd. owned 0.38% of Surmodics worth $1,225,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Surmodics during the 1st quarter valued at $225,000. Tower Research Capital LLC TRC grew its holdings in shares of Surmodics by 694.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,877 shares of the company’s stock worth $148,000 after acquiring an additional 4,263 shares during the last quarter. BNP Paribas Arbitrage SNC grew its holdings in shares of Surmodics by 34.4% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,854 shares of the company’s stock worth $148,000 after acquiring an additional 1,243 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Surmodics by 50.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 4,293 shares of the company’s stock worth $147,000 after acquiring an additional 1,442 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Surmodics by 24.3% in the 1st quarter. Captrust Financial Advisors now owns 2,307 shares of the company’s stock worth $105,000 after acquiring an additional 451 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SRDX. Barrington Research lifted their target price on Surmodics from $60.00 to $69.00 in a report on Wednesday, June 21st. StockNews.com began coverage on Surmodics in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 target price (up from $36.00) on shares of Surmodics in a report on Wednesday, August 2nd.
Surmodics Stock Performance
Shares of Surmodics stock opened at $37.86 on Thursday. The stock has a market cap of $535.11 million, a PE ratio of -22.95 and a beta of 1.21. The business has a fifty day simple moving average of $33.17 and a 200-day simple moving average of $25.64. The company has a quick ratio of 2.22, a current ratio of 2.68 and a debt-to-equity ratio of 0.26. Surmodics, Inc. has a 12 month low of $16.00 and a 12 month high of $39.38.
Surmodics (NASDAQ:SRDX – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of ($0.46) by $0.98. The business had revenue of $52.48 million during the quarter, compared to analysts’ expectations of $26.70 million. Surmodics had a negative return on equity of 8.34% and a negative net margin of 17.58%. On average, sell-side analysts anticipate that Surmodics, Inc. will post -0.22 EPS for the current fiscal year.
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 in two segments, Medical Device and In Vitro Diagnostics (IVD).
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