Rhumbline Advisers Increases Holdings in Surmodics, Inc. (NASDAQ:SRDX)

Rhumbline Advisers grew its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 13.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,999 shares of the company’s stock after acquiring an additional 2,463 shares during the period. Rhumbline Advisers owned about 0.15% of Surmodics worth $883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Versor Investments LP purchased a new position in shares of Surmodics in the second quarter valued at about $2,723,000. Bailard Inc. purchased a new position in shares of Surmodics in the second quarter valued at about $257,000. Bank of New York Mellon Corp lifted its position in shares of Surmodics by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock valued at $2,464,000 after acquiring an additional 8,220 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Surmodics by 4,722.3% in the second quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock valued at $2,877,000 after acquiring an additional 67,010 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after acquiring an additional 673 shares in the last quarter. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Trading Up 0.2 %

Shares of NASDAQ SRDX opened at $39.34 on Tuesday. The business’s 50 day moving average is $40.29 and its two-hundred day moving average is $36.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The stock has a market capitalization of $560.99 million, a P/E ratio of 41.41 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. Surmodics had a positive return on equity of 3.88% and a negative net margin of 1.16%. The company had revenue of $30.34 million for the quarter, compared to analysts’ expectations of $30.32 million. As a group, research analysts expect that Surmodics, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

SRDX has been the topic of several research analyst reports. Lake Street Capital restated a “hold” rating and issued a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. StockNews.com started coverage on Surmodics in a report on Friday. They issued a “hold” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Monday, August 5th. Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Finally, Sidoti reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.00.

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).