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

Phocas Financial Corp. lifted its holdings in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 17.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,994 shares of the company's stock after purchasing 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 recently made changes to their positions in the business. R Squared Ltd bought a new stake in Surmodics during the 4th quarter worth approximately $55,000. Legal & General Group Plc raised its stake 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 acquiring an additional 880 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Surmodics during the 4th quarter worth approximately $217,000. Polymer Capital Management US LLC bought a new stake in Surmodics during the 4th quarter worth approximately $255,000. Finally, DeepCurrents Investment Group LLC bought a new stake in Surmodics during the 4th quarter worth approximately $260,000. Institutional investors own 96.63% of the company's stock.

Surmodics Price Performance

Shares of Surmodics stock traded down $0.49 on Friday, hitting $29.04. 41,419 shares of the company traded hands, compared to its average volume of 262,780. The stock has a market capitalization of $415.24 million, a P/E ratio of -28.75 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. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $42.44. The business has a 50-day simple moving average of $28.71 and a 200 day simple moving average of $33.57.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its 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). Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. The business had revenue of $28.09 million during the quarter, compared to analysts' expectations of $32.23 million. Research analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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).