Bank of New York Mellon Corp Sells 2,966 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Bank of New York Mellon Corp trimmed its holdings in shares of Surmodics, Inc. (NASDAQ:SRDX) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,965 shares of the company’s stock after selling 2,966 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Surmodics worth $1,741,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. New York State Common Retirement Fund boosted its position in shares of Surmodics by 12.4% in the fourth quarter. New York State Common Retirement Fund now owns 19,544 shares of the company’s stock worth $774,000 after purchasing an additional 2,162 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Surmodics by 17.5% in the fourth quarter. Principal Financial Group Inc. now owns 36,061 shares of the company’s stock worth $1,428,000 after buying an additional 5,365 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Surmodics by 4.4% in the fourth quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock worth $802,000 after buying an additional 861 shares in the last quarter. R Squared Ltd purchased a new stake in Surmodics during the fourth quarter valued at $55,000. Finally, SG Americas Securities LLC raised its stake in Surmodics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after purchasing an additional 1,255 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SRDX. Lake Street Capital upgraded shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, March 7th. StockNews.com began coverage on shares of Surmodics in a report on Monday, February 3rd. They issued a “hold” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Surmodics currently has a consensus rating of “Hold” and an average target price of $50.00.

Surmodics Stock Performance

SRDX stock opened at $30.38 on Friday. The firm has a market cap of $434.31 million, a price-to-earnings ratio of -30.08 and a beta of 1.19. The firm has a 50-day simple moving average of $33.44 and a two-hundred day simple moving average of $37.04. Surmodics, Inc. has a one year low of $25.17 and a one year high of $42.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45.

Surmodics (NASDAQ:SRDX) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.04. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. On average, equities analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current fiscal 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).