Sagefield Capital LP Invests $2.35 Million in Surmodics, Inc. (NASDAQ:SRDX)

Sagefield Capital LP acquired a new position in Surmodics, Inc. (NASDAQ:SRDX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,900 shares of the company’s stock, valued at approximately $2,350,000. Sagefield Capital LP owned approximately 0.39% of Surmodics as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Gabelli Funds LLC increased its stake in Surmodics by 393.7% in the 2nd quarter. Gabelli Funds LLC now owns 260,200 shares of the company’s stock valued at $10,939,000 after buying an additional 207,500 shares during the last quarter. Gardner Lewis Asset Management L P bought a new position in shares of Surmodics in the 2nd quarter valued at about $8,531,000. Renaissance Technologies LLC increased its position in shares of Surmodics by 5.0% in the second quarter. Renaissance Technologies LLC now owns 606,538 shares of the company’s stock valued at $25,499,000 after acquiring an additional 28,990 shares during the last quarter. Hardin Capital Partners LLC bought a new stake in Surmodics during the second quarter worth about $206,000. Finally, Trium Capital LLP acquired a new position in Surmodics during the second quarter valued at approximately $1,406,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SRDX. StockNews.com initiated coverage on Surmodics in a research report on Friday. They set a “hold” rating on the stock. Lake Street Capital restated a “hold” rating and set a $43.00 target price on shares of Surmodics in a report on Wednesday, May 29th. Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a research report on Thursday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research report on Monday, August 5th. 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Trading Up 0.2 %

Shares of Surmodics stock opened at $39.34 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. The business has a fifty day simple moving average of $40.29 and a two-hundred day simple moving average of $36.34. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The company has a market capitalization of $560.99 million, a price-to-earnings ratio of 41.41 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.04. The company had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. Research analysts forecast that Surmodics, Inc. will post -0.47 EPS 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).