Credit Industriel ET Commercial Purchases New Position in Surmodics, Inc. (NASDAQ:SRDX)

Credit Industriel ET Commercial purchased a new stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 56,500 shares of the company's stock, valued at approximately $2,237,000. Credit Industriel ET Commercial owned approximately 0.40% of Surmodics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cigogne Management SA bought a new position in Surmodics during the fourth quarter valued at about $3,109,000. Price T Rowe Associates Inc. MD bought a new position in shares of Surmodics during the 4th quarter valued at approximately $217,000. Alpine Global Management LLC purchased a new stake in shares of Surmodics during the 4th quarter worth approximately $1,980,000. Hsbc Holdings PLC raised its holdings in shares of Surmodics by 2.9% in the 4th quarter. Hsbc Holdings PLC now owns 254,698 shares of the company's stock worth $10,082,000 after purchasing an additional 7,163 shares during the period. Finally, ClearAlpha Technologies LP lifted its stake in Surmodics by 19.9% in the fourth quarter. ClearAlpha Technologies LP now owns 60,152 shares of the company's stock valued at $2,382,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on SRDX shares. Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 target price on the stock in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a report on Thursday, January 30th. Finally, StockNews.com initiated coverage on shares of Surmodics in a research report on Monday, February 3rd. They set a "hold" rating for the company. Four 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, the stock has an average rating of "Hold" and an average target price of $50.00.

Surmodics Price Performance

Shares of Surmodics stock traded down $0.57 during trading on Tuesday, hitting $30.53. The stock had a trading volume of 9,025 shares, compared to its average volume of 277,413. The firm has a market cap of $436.46 million, a price-to-earnings ratio of -30.23 and a beta of 1.30. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. The business's 50-day moving average is $29.94 and its 200 day moving average is $35.14. Surmodics, Inc. has a 12 month low of $25.17 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. As a group, sell-side analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current year.

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).