Algert Global LLC Boosts Holdings in Surmodics, Inc. (NASDAQ:SRDX)

Algert Global LLC lifted its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 29.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,820 shares of the company’s stock after purchasing an additional 4,098 shares during the period. Algert Global LLC owned about 0.12% of Surmodics worth $691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC lifted its holdings in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after buying an additional 1,071 shares in the last quarter. Hardin Capital Partners LLC purchased a new stake in shares of Surmodics during the second quarter worth about $206,000. The Manufacturers Life Insurance Company acquired a new position in shares of Surmodics in the second quarter worth about $229,000. Lazard Asset Management LLC boosted its holdings in Surmodics by 13.4% in the first quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after purchasing an additional 673 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Surmodics in the third quarter valued at about $220,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Surmodics news, CFO Timothy J. Arens sold 7,009 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.44, for a total transaction of $276,434.96. Following the completion of the transaction, the chief financial officer now owns 70,350 shares in the company, valued at approximately $2,774,604. The trade was a 9.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.90% of the company’s stock.

Surmodics Stock Down 0.2 %

Shares of NASDAQ:SRDX opened at $39.45 on Friday. The company’s fifty day moving average is $38.51 and its two-hundred day moving average is $39.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The stock has a market capitalization of $565.32 million, a price-to-earnings ratio of -48.72 and a beta of 1.20.

Surmodics (NASDAQ:SRDX) last released 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. Surmodics had a negative net margin of 9.15% and a negative return on equity of 3.79%. The firm had revenue of $33.23 million for the quarter, compared to analyst estimates of $30.69 million. Equities analysts anticipate that Surmodics, Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SRDX shares. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. StockNews.com initiated coverage on shares of Surmodics in a report on Saturday, November 23rd. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating, According to MarketBeat, Surmodics has an average rating of “Hold” and an average target price of $50.00.

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).