Surmodics, Inc. (NASDAQ:SRDX) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 606,538 shares of the company’s stock after acquiring an additional 28,990 shares during the period. Renaissance Technologies LLC owned about 4.25% of Surmodics worth $25,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. US Bancorp DE raised its position in shares of Surmodics by 61.9% in the fourth quarter. US Bancorp DE now owns 16,190 shares of the company’s stock valued at $589,000 after buying an additional 6,193 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Surmodics in the fourth quarter valued at approximately $504,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Surmodics in the first quarter valued at approximately $223,000. BNP Paribas Financial Markets raised its position in shares of Surmodics by 7.5% in the first quarter. BNP Paribas Financial Markets now owns 6,878 shares of the company’s stock valued at $202,000 after buying an additional 481 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Surmodics by 14.7% in the first quarter. SG Americas Securities LLC now owns 5,138 shares of the company’s stock valued at $151,000 after buying an additional 660 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

Surmodics Price Performance

Surmodics stock opened at $39.40 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.98. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. The firm has a 50 day moving average price of $40.45 and a 200 day moving average price of $36.11. The company has a market cap of $562.24 million, a price-to-earnings ratio of 41.47 and a beta of 1.20.

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

Wall Street Analysts Forecast Growth

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

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).