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

Soleus Capital Management L.P. cut its stake in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 about 2.76% of Surmodics worth $15,605,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in Surmodics by 16.0% in the 3rd quarter. Barclays PLC now owns 88,750 shares of the company's stock worth $3,443,000 after acquiring an additional 12,271 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Surmodics by 192.7% in the third 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 period. SG Americas Securities LLC boosted its holdings in shares of Surmodics by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 6,940 shares of the company's stock valued at $275,000 after purchasing an additional 1,255 shares during the period. R Squared Ltd bought a new position in Surmodics in the fourth quarter worth approximately $55,000. Finally, Rhumbline Advisers increased its holdings in Surmodics by 4.4% during the 4th quarter. Rhumbline Advisers now owns 20,250 shares of the company's stock worth $802,000 after purchasing an additional 861 shares during the period. Hedge funds and other institutional investors own 96.63% of the company's stock.

Surmodics Stock Up 0.2%

SRDX traded up $0.06 during trading on Thursday, hitting $29.16. The stock had a trading volume of 156,567 shares, compared to its average volume of 278,464. The stock has a 50 day simple moving average of $28.85 and a two-hundred day simple moving average of $34.01. 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 twelve month low of $26.00 and a twelve month high of $42.44. The company has a market capitalization of $416.96 million, a PE ratio of -28.87 and a beta of 1.32.

Surmodics (NASDAQ:SRDX - Get Free Report) last issued 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 business had revenue of $28.09 million for the quarter, compared to analysts' expectations of $32.23 million. On average, research analysts predict that Surmodics, Inc. will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SRDX. Wall Street Zen started coverage on Surmodics in a report on Monday, February 3rd. They issued a "hold" rating for the company. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a report on Wednesday, April 30th. Finally, Lake Street Capital upgraded shares of Surmodics from a "hold" rating to a "buy" rating and set a $43.00 target price on the stock in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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).