Principal Financial Group Inc. Invests $1.19 Million in Surmodics, Inc. (NASDAQ:SRDX)

Principal Financial Group Inc. bought a new stake in shares of Surmodics, Inc. (NASDAQ:SRDX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,696 shares of the company’s stock, valued at approximately $1,190,000.

Several other hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings 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 worth $151,000 after purchasing an additional 660 shares during the last quarter. Lazard Asset Management LLC boosted its position in Surmodics by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 5,679 shares of the company’s stock valued at $166,000 after buying an additional 673 shares during the period. Los Angeles Capital Management LLC grew its holdings in Surmodics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 36,425 shares of the company’s stock worth $1,531,000 after acquiring an additional 1,221 shares during the last quarter. Rhumbline Advisers increased its position in shares of Surmodics by 13.3% in the second quarter. Rhumbline Advisers now owns 20,999 shares of the company’s stock valued at $883,000 after acquiring an additional 2,463 shares during the period. Finally, Squarepoint Ops LLC raised its stake in shares of Surmodics by 29.3% during the second quarter. Squarepoint Ops LLC now owns 12,875 shares of the company’s stock valued at $541,000 after acquiring an additional 2,920 shares during the last quarter. 96.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com started coverage on Surmodics in a research note on Saturday. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.00.

Surmodics Stock Up 0.4 %

Shares of NASDAQ:SRDX opened at $39.33 on Friday. The firm has a market capitalization of $563.44 million, a P/E ratio of -48.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.22 and a current ratio of 3.96. The stock has a 50 day moving average price of $38.49 and a 200-day moving average price of $39.43. Surmodics, Inc. has a 52-week low of $25.17 and a 52-week high of $42.44.

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

Surmodics Company 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).