Phocas Financial Corp. Raises Stock Holdings in Surmodics, Inc. (NASDAQ:SRDX)

Phocas Financial Corp. grew its stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,994 shares of the company's stock after acquiring an additional 15,534 shares during the period. Phocas Financial Corp. owned about 0.73% of Surmodics worth $4,118,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SRDX. Hudson Bay Capital Management LP purchased a new position in Surmodics during the 4th quarter valued at about $11,880,000. Bardin Hill Management Partners LP purchased a new position in shares of Surmodics during the 4th quarter worth approximately $7,440,000. Eisler Capital Management Ltd. acquired a new position in shares of Surmodics during the 4th quarter worth approximately $5,394,000. Balyasny Asset Management L.P. acquired a new position in shares of Surmodics during the 4th quarter worth approximately $4,921,000. Finally, Squarepoint Ops LLC lifted its holdings in Surmodics by 154.9% in the 4th quarter. Squarepoint Ops LLC now owns 162,066 shares of the company's stock valued at $6,418,000 after purchasing an additional 98,489 shares in the last quarter. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Trading Down 1.7%

SRDX traded down $0.49 during trading on Friday, hitting $29.04. 41,419 shares of the company's stock were exchanged, compared to its average volume of 266,530. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $42.44. The stock has a 50 day moving average price of $28.75 and a 200 day moving average price of $33.63. The firm has a market cap of $415.24 million, a P/E ratio of -28.75 and a beta of 1.32. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share (EPS) 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, analysts expect that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SRDX has been the topic of several recent analyst reports. Wall Street Zen started coverage on shares of Surmodics in a report on Monday, February 3rd. They set a "hold" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. Finally, Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective on the stock in a research note on Friday, March 7th.

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).