Nuveen Asset Management LLC Has $1.64 Million Stake in Surmodics, Inc. (NASDAQ:SRDX)

Nuveen Asset Management LLC decreased its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,347 shares of the company’s stock after selling 1,262 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.29% of Surmodics worth $1,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SRDX. Legal & General Group Plc lifted its holdings in Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock worth $137,000 after buying an additional 880 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Surmodics in the 4th quarter valued at about $217,000. Polymer Capital Management US LLC bought a new stake in Surmodics in the 4th quarter valued at about $255,000. DeepCurrents Investment Group LLC bought a new stake in Surmodics in the 4th quarter valued at about $260,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Surmodics in the 4th quarter valued at about $262,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Surmodics Price Performance

Shares of NASDAQ SRDX opened at $29.50 on Wednesday. Surmodics, Inc. has a twelve month low of $26.00 and a twelve month high of $42.44. The stock’s 50 day moving average price is $28.67 and its 200-day moving average price is $33.41. The company has a market capitalization of $421.82 million, a PE ratio of -29.21 and a beta of 1.32. 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 posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) 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 during the quarter, compared to analysts’ expectations of $32.23 million. On average, equities analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on SRDX shares. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Wednesday, April 30th. Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, March 7th.

About Surmodics

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).