Price T Rowe Associates Inc. MD Invests $217,000 in Surmodics, Inc. (NASDAQ:SRDX)

Price T Rowe Associates Inc. MD purchased a new position in shares of Surmodics, Inc. (NASDAQ:SRDX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,469 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also made changes to their positions in the company. Gabelli Funds LLC raised its holdings in Surmodics by 3.7% in the fourth quarter. Gabelli Funds LLC now owns 339,959 shares of the company’s stock valued at $13,462,000 after acquiring an additional 12,250 shares in the last quarter. Gardner Lewis Asset Management L P raised its holdings in Surmodics by 23.5% in the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock valued at $10,410,000 after acquiring an additional 49,944 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Surmodics by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 254,698 shares of the company’s stock valued at $10,082,000 after acquiring an additional 7,163 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Surmodics by 6.4% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 129,237 shares of the company’s stock valued at $5,118,000 after acquiring an additional 7,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Surmodics by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 117,904 shares of the company’s stock valued at $4,669,000 after acquiring an additional 1,593 shares in the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Wednesday, April 30th. Lake Street Capital raised shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Friday, March 7th. Finally, StockNews.com assumed coverage on shares of Surmodics in a report on Monday, February 3rd. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Surmodics has an average rating of “Hold” and a consensus price target of $43.00.

Surmodics Stock Performance

Shares of Surmodics stock opened at $28.58 on Friday. The firm has a market capitalization of $408.67 million, a P/E ratio of -28.30 and a beta of 1.32. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $42.44. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $28.75 and its two-hundred day moving average is $34.18.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Research analysts forecast 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).