Surmodics, Inc. (NASDAQ:SRDX) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,010 shares of the company’s stock after buying an additional 5,673 shares during the period. Northern Trust Corp owned about 0.94% of Surmodics worth $5,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Credit Industriel ET Commercial purchased a new stake in shares of Surmodics during the fourth quarter valued at approximately $2,237,000. Cigogne Management SA purchased a new stake in shares of Surmodics during the fourth quarter valued at approximately $3,109,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Surmodics during the fourth quarter valued at approximately $217,000. Alpine Global Management LLC bought a new stake in shares of Surmodics in the fourth quarter worth $1,980,000. Finally, Hsbc Holdings PLC increased its stake in shares of Surmodics by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 254,698 shares of the company’s stock worth $10,082,000 after buying an additional 7,163 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SRDX has been the subject of a number of research analyst reports. 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 note on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Wednesday, April 30th. Finally, StockNews.com began coverage on shares of Surmodics in a research note on Monday, February 3rd. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.00.

Surmodics Stock Performance

Shares of SRDX opened at $29.68 on Wednesday. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $42.44. The company has a market cap of $424.39 million, a price-to-earnings ratio of -29.39 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The firm has a fifty day moving average of $28.83 and a 200-day moving average of $34.04.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. The firm had revenue of $28.09 million for the quarter, compared to analyst estimates of $32.23 million. As a group, equities analysts anticipate that Surmodics, Inc. will post 0.2 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).