6,563 Shares in Surmodics, Inc. (NASDAQ:SRDX) Acquired by DeepCurrents Investment Group LLC

DeepCurrents Investment Group LLC bought a new stake in shares of Surmodics, Inc. (NASDAQ:SRDX) during the fourth quarter, HoldingsChannel reports. The fund bought 6,563 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Surmodics by 192.7% during the third quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company’s stock valued at $1,647,000 after acquiring an additional 27,960 shares during the last quarter. Barclays PLC grew its holdings in shares of Surmodics by 16.0% during the third quarter. Barclays PLC now owns 88,750 shares of the company’s stock worth $3,443,000 after buying an additional 12,271 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Surmodics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock worth $275,000 after buying an additional 1,255 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Surmodics by 165.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,000 shares of the company’s stock valued at $1,188,000 after buying an additional 18,692 shares during the last quarter. Finally, Gardner Lewis Asset Management L P boosted its position in Surmodics by 23.5% during the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company’s stock worth $10,410,000 after acquiring an additional 49,944 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Wednesday, April 30th. StockNews.com assumed coverage on Surmodics in a research note on Monday, February 3rd. They issued a “hold” rating for the company. Finally, Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Surmodics has an average rating of “Hold” and a consensus price target of $43.00.

Surmodics Stock Up 1.5 %

Shares of SRDX opened at $27.37 on Wednesday. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $42.44. The company’s fifty day moving average is $29.13 and its two-hundred day moving average is $34.73. The firm has a market cap of $391.36 million, a PE ratio of -27.10 and a beta of 1.32. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX) last issued its earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The firm had revenue of $28.09 million during the quarter, compared to analyst estimates of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current 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).