Geode Capital Management LLC Has $12.59 Million Position in Surmodics, Inc. (NASDAQ:SRDX)

Geode Capital Management LLC boosted its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,560 shares of the company’s stock after acquiring an additional 516 shares during the quarter. Geode Capital Management LLC owned 2.27% of Surmodics worth $12,589,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after buying an additional 28,990 shares in the last quarter. State Street Corp increased its stake 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 buying an additional 60,240 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Surmodics by 393.7% in the second quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares in the last quarter. Gardner Lewis Asset Management L P acquired a new stake in shares of Surmodics in the second quarter valued at $8,531,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Surmodics by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after buying an additional 1,491 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SRDX shares. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. StockNews.com started coverage on Surmodics in a research note on Wednesday, December 25th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.

Insider Transactions at Surmodics

In other 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 transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.90% of the company’s stock.

Surmodics Price Performance

Surmodics stock opened at $39.63 on Tuesday. The business’s 50-day simple moving average is $39.03 and its 200 day simple moving average is $39.88. The stock has a market cap of $566.47 million, a price-to-earnings ratio of -48.93 and a beta of 1.22. 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 3.96 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.14. The business had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. As a group, research analysts anticipate that Surmodics, Inc. will post 0.17 earnings per share 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).