Surmodics, Inc. (NASDAQ:SRDX) Stock Holdings Boosted by Quest Partners LLC

Quest Partners LLC increased its position in Surmodics, Inc. (NASDAQ:SRDX) by 107,100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,072 shares of the company’s stock after acquiring an additional 1,071 shares during the period. Quest Partners LLC’s holdings in Surmodics were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SRDX. Vanguard Group Inc. increased its stake in shares of Surmodics by 0.7% in the first quarter. Vanguard Group Inc. now owns 865,214 shares of the company’s stock valued at $25,385,000 after purchasing an additional 5,927 shares during the period. Lazard Asset Management LLC grew its holdings in Surmodics by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock worth $166,000 after buying an additional 673 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Surmodics by 4,722.3% in the 2nd 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 during the period. Bank of New York Mellon Corp raised its stake in Surmodics by 16.3% during the 2nd 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. Finally, Bailard Inc. acquired a new position in Surmodics during the 2nd quarter worth $257,000. 96.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SRDX has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Surmodics in a report on Sunday. They set a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Insider Buying and Selling

In other news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total transaction of $276,434.96. Following the transaction, the chief financial officer now directly owns 70,350 shares in the company, valued at $2,774,604. The trade was a 9.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.90% of the stock is currently owned by corporate insiders.

Surmodics Stock Performance

Shares of NASDAQ SRDX opened at $39.45 on Friday. The stock’s fifty day simple moving average is $38.52 and its 200 day simple moving average is $39.63. The stock has a market capitalization of $565.32 million, a price-to-earnings ratio of -48.70 and a beta of 1.20. The company has a quick ratio of 3.22, a current ratio of 3.96 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.14. The firm had revenue of $33.23 million for the quarter, compared to analysts’ expectations of $30.69 million. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. As a group, sell-side analysts forecast that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal 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).