Soleus Capital Management L.P. Reduces Stock Position in Surmodics, Inc. (NASDAQ:SRDX)

Soleus Capital Management L.P. lowered its stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 38.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 394,060 shares of the company's stock after selling 243,638 shares during the period. Soleus Capital Management L.P. owned approximately 2.76% of Surmodics worth $15,605,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Surmodics by 192.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company's stock valued at $1,647,000 after purchasing an additional 27,960 shares during the last quarter. Barclays PLC boosted its stake in Surmodics by 16.0% during the 3rd quarter. Barclays PLC now owns 88,750 shares of the company's stock valued at $3,443,000 after purchasing an additional 12,271 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Surmodics by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 6,940 shares of the company's stock worth $275,000 after buying an additional 1,255 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Surmodics by 165.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,000 shares of the company's stock worth $1,188,000 after buying an additional 18,692 shares during the last quarter. Finally, Gardner Lewis Asset Management L P boosted its stake in shares of Surmodics by 23.5% in the 4th quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock worth $10,410,000 after buying an additional 49,944 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company's stock.

Surmodics Stock Performance

Shares of NASDAQ SRDX traded down $0.46 during midday trading on Friday, reaching $28.70. The company's stock had a trading volume of 89,263 shares, compared to its average volume of 278,695. Surmodics, Inc. has a 12-month low of $26.00 and a 12-month high of $42.44. The firm has a 50 day moving average price of $28.84 and a 200-day moving average price of $33.89. The stock has a market capitalization of $410.38 million, a P/E ratio of -28.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $28.09 million during the quarter, compared to analysts' expectations of $32.23 million. As a group, equities analysts predict that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SRDX has been the topic of a number of research analyst reports. Wall Street Zen initiated coverage on Surmodics in a research note on Monday, February 3rd. They issued a "hold" rating on the stock. Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 target price on the stock in a research note on Friday, March 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $43.00.

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).