California State Teachers Retirement System Boosts Stake in Surmodics, Inc. (NASDAQ:SRDX)

California State Teachers Retirement System grew its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 5,005.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,999 shares of the company’s stock after buying an additional 50,000 shares during the quarter. California State Teachers Retirement System owned 0.36% of Surmodics worth $2,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SRDX. Barclays PLC increased its position in shares of Surmodics by 16.0% during the third quarter. Barclays PLC now owns 88,750 shares of the company’s stock valued at $3,443,000 after acquiring an additional 12,271 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Surmodics by 165.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,000 shares of the company’s stock valued at $1,188,000 after purchasing an additional 18,692 shares during the period. Gardner Lewis Asset Management L P increased its position in shares of Surmodics by 23.5% during the 4th quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock valued at $10,410,000 after purchasing an additional 49,944 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Surmodics by 40.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company’s stock worth $278,000 after purchasing an additional 2,041 shares during the period. Finally, DLD Asset Management LP bought a new stake in shares of Surmodics during the 4th quarter worth $2,514,000. Institutional investors own 96.63% of the company’s stock.

Analyst Ratings Changes

SRDX has been the subject of several research 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 report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research note on Wednesday, April 30th.

Surmodics Stock Performance

Shares of SRDX opened at $29.40 on Friday. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $42.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. The stock’s fifty day moving average price is $28.61 and its two-hundred day moving average price is $33.21. The firm has a market cap of $420.39 million, a PE ratio of -29.11 and a beta of 1.33.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $32.23 million. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. On average, equities research analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current year.

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).