JPMorgan Chase & Co. Increases Stake in Surmodics, Inc. (NASDAQ:SRDX)

JPMorgan Chase & Co. grew its position in Surmodics, Inc. (NASDAQ:SRDX) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,990 shares of the company’s stock after acquiring an additional 8,520 shares during the period. JPMorgan Chase & Co. owned about 0.36% of Surmodics worth $2,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SRDX. Modus Advisors LLC acquired a new stake in Surmodics in the fourth quarter valued at about $40,000. R Squared Ltd acquired a new stake in shares of Surmodics in the 4th quarter valued at approximately $55,000. SG Americas Securities LLC boosted its stake in shares of Surmodics by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after buying an additional 1,255 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Surmodics by 12.4% during the fourth quarter. New York State Common Retirement Fund now owns 19,544 shares of the company’s stock worth $774,000 after acquiring an additional 2,162 shares during the period. Finally, Rhumbline Advisers raised its position in Surmodics by 4.4% in the fourth quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock worth $802,000 after acquiring an additional 861 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SRDX has been the topic of a number of recent analyst reports. StockNews.com began coverage on shares of Surmodics in a research note on Monday, February 3rd. They set a “hold” rating on the stock. Lake Street Capital upgraded shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Surmodics has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

Shares of SRDX opened at $29.40 on Friday. The company has a 50-day moving average of $30.09 and a two-hundred day moving average of $35.30. The stock has a market cap of $420.30 million, a P/E ratio of -29.11 and a beta of 1.30. Surmodics, Inc. has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Thursday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. As a group, research analysts predict that Surmodics, Inc. will post 0.2 EPS for the current fiscal 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).