Surmodics, Inc. (NASDAQ:SRDX) Shares Bought by Deutsche Bank AG

Deutsche Bank AG grew its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX) by 77.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,683 shares of the company’s stock after buying an additional 18,671 shares during the quarter. Deutsche Bank AG owned 0.30% of Surmodics worth $1,690,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new stake in Surmodics in the fourth quarter valued at $55,000. Legal & General Group Plc increased its position in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock worth $137,000 after purchasing an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Surmodics in the 4th quarter valued at about $217,000. Polymer Capital Management US LLC bought a new position in shares of Surmodics during the fourth quarter worth about $255,000. Finally, DeepCurrents Investment Group LLC acquired a new position in Surmodics in the fourth quarter worth about $260,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

SRDX has been the topic of several research reports. Lake Street Capital upgraded Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Friday, March 7th. Wall Street Zen initiated coverage on Surmodics in a research report on Monday, February 3rd. They set a “hold” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.00.

Surmodics Price Performance

Shares of NASDAQ:SRDX opened at $28.70 on Friday. The company has a market cap of $410.38 million, a PE ratio of -28.42 and a beta of 1.32. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $42.44. The firm has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $33.89. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The company had revenue of $28.09 million during the quarter, compared to analyst estimates of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. On average, sell-side analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current year.

Surmodics Company 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).