Cigogne Management SA Buys Shares of 78,500 Surmodics, Inc. (NASDAQ:SRDX)

Cigogne Management SA bought a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 78,500 shares of the company's stock, valued at approximately $3,109,000. Surmodics accounts for approximately 1.8% of Cigogne Management SA's portfolio, making the stock its 13th biggest holding. Cigogne Management SA owned approximately 0.55% of Surmodics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SRDX. Modus Advisors LLC acquired a new stake in Surmodics during the 4th quarter worth approximately $40,000. R Squared Ltd acquired a new stake in Surmodics during the 4th quarter worth approximately $55,000. Legal & General Group Plc lifted its holdings in Surmodics by 34.2% during the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock worth $137,000 after purchasing an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Surmodics during the 4th quarter worth approximately $217,000. Finally, Polymer Capital Management US LLC acquired a new stake in Surmodics during the 4th quarter worth approximately $255,000. 96.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SRDX shares. StockNews.com assumed coverage on Surmodics in a report on Monday, February 3rd. They set a "hold" rating for the company. Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a report on Thursday, January 30th. Finally, Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective for the company 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $50.00.

Surmodics Trading Down 2.3 %

Shares of Surmodics stock traded down $0.71 on Tuesday, hitting $30.39. The stock had a trading volume of 6,110 shares, compared to its average volume of 277,400. The stock has a 50 day moving average of $29.94 and a 200 day moving average of $35.14. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The firm has a market capitalization of $434.46 million, a P/E ratio of -30.10 and a beta of 1.30.

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