Burren Capital Advisors Ltd Invests $1.09 Million in Surmodics, Inc. (NASDAQ:SRDX)

Key Points

• Burren Capital Advisors Ltd has acquired 35,846 shares of Surmodics, Inc., valued at approximately $1.094 million, making it the firm’s 11th largest investment.
• As of the latest filing, institutional investors own 96.63% of Surmodics' stock, indicating a strong interest from hedge funds.
• Surmodics reported a quarterly EPS of ($0.13), missing analysts' expectations, with revenue of $28.09 million against an estimate of $32.23 million.

Burren Capital Advisors Ltd acquired a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,846 shares of the company's stock, valued at approximately $1,094,000. Surmodics makes up about 3.9% of Burren Capital Advisors Ltd's investment portfolio, making the stock its 11th biggest position. Burren Capital Advisors Ltd owned 0.25% of Surmodics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SRDX. 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 worth $137,000 after acquiring an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Surmodics during the fourth quarter worth about $217,000. Polymer Capital Management US LLC purchased a new stake in shares of Surmodics during the fourth quarter worth about $255,000. DeepCurrents Investment Group LLC purchased a new stake in shares of Surmodics during the fourth quarter worth about $260,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Surmodics in the fourth quarter valued at about $262,000. Institutional investors and hedge funds own 96.63% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th.

Surmodics Stock Up 0.1%

Surmodics stock traded up $0.03 during midday trading on Wednesday, hitting $37.43. The stock had a trading volume of 146,595 shares, compared to its average volume of 173,672. The company has a current ratio of 5.14, a quick ratio of 3.99 and a debt-to-equity ratio of 0.27. The stock has a market cap of $535.19 million, a P/E ratio of -26.98 and a beta of 1.31. Surmodics, Inc. has a 12 month low of $26.00 and a 12 month high of $41.56. The business has a fifty day moving average price of $30.20 and a 200 day moving average price of $30.88.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $28.09 million during the quarter, compared to the consensus estimate of $32.23 million. Surmodics had a negative net margin of 16.34% and a negative return on equity of 7.10%. Research analysts predict that Surmodics, Inc. will post 0.2 EPS for the current 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).