Modus Advisors LLC Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Modus Advisors LLC purchased a new stake in Surmodics, Inc. (NASDAQ:SRDX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Surmodics by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 58,610 shares of the company’s stock worth $2,464,000 after buying an additional 8,220 shares during the period. Rhumbline Advisers lifted its position in shares of Surmodics by 13.3% during the second quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after purchasing an additional 2,463 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Surmodics by 3.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock worth $1,531,000 after buying an additional 1,221 shares in the last quarter. Trium Capital LLP purchased a new position in Surmodics in the second quarter worth $1,406,000. Finally, Hardin Capital Partners LLC purchased a new position in shares of Surmodics in the 2nd quarter worth about $206,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Surmodics Price Performance

SRDX opened at $39.52 on Friday. Surmodics, Inc. has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a market cap of $564.90 million, a price-to-earnings ratio of -48.79 and a beta of 1.22. The stock has a fifty day simple moving average of $39.17 and a two-hundred day simple moving average of $39.83. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. The company had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. Research analysts predict that Surmodics, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com began coverage on Surmodics in a report on Thursday. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Insider Activity at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of the company’s stock in a transaction dated 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 approximately $2,774,604. This represents a 9.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.90% of the stock is owned by company insiders.

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).