Alpine Global Management LLC Buys New Shares in Surmodics, Inc. (NASDAQ:SRDX)

Alpine Global Management LLC bought a new stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 50,000 shares of the company's stock, valued at approximately $1,980,000. Alpine Global Management LLC owned 0.35% of Surmodics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SRDX. R Squared Ltd bought a new position in shares of Surmodics in the fourth quarter valued at approximately $55,000. Legal & General Group Plc increased its position in shares of Surmodics by 34.2% during the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company's stock valued at $137,000 after purchasing an additional 880 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Surmodics during the fourth quarter valued at approximately $217,000. Polymer Capital Management US LLC acquired a new position in shares of Surmodics in the fourth quarter valued at $255,000. Finally, DeepCurrents Investment Group LLC bought a new position in Surmodics in the fourth quarter worth $260,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Price Performance

Shares of NASDAQ SRDX traded up $0.06 during midday trading on Wednesday, reaching $28.87. 19,498 shares of the company traded hands, compared to its average volume of 277,710. The firm has a market cap of $412.81 million, a PE ratio of -28.58 and a beta of 1.32. 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 stock's 50-day simple moving average is $28.79 and its 200-day simple moving average is $33.72. Surmodics, Inc. has a 12 month low of $26.00 and a 12 month high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.07). The company had revenue of $28.09 million during the quarter, compared to analyst estimates of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. As a group, equities analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SRDX shares. Lake Street Capital upgraded shares of 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. Wall Street Zen started coverage on shares of Surmodics in a research report on Monday, February 3rd. They issued a "hold" rating for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $43.00.

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).