Deutsche Bank AG Buys 18,671 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Deutsche Bank AG boosted its position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 77.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,683 shares of the company's stock after purchasing an additional 18,671 shares during the quarter. Deutsche Bank AG owned about 0.30% of Surmodics worth $1,690,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SRDX. R Squared Ltd acquired a new stake in shares of Surmodics during the fourth quarter worth $55,000. Legal & General Group Plc increased its position in 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 period. Price T Rowe Associates Inc. MD acquired a new stake in Surmodics in the 4th quarter worth about $217,000. Polymer Capital Management US LLC bought a new stake in Surmodics in the 4th quarter valued at about $255,000. Finally, DeepCurrents Investment Group LLC bought a new position in shares of Surmodics during the fourth quarter worth approximately $260,000. 96.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SRDX has been the topic of a number of analyst reports. Wall Street Zen assumed coverage on Surmodics in a research report on Monday, February 3rd. They set 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 for the company in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $43.00.

Surmodics Price Performance

Shares of SRDX stock traded up $0.33 during trading hours on Thursday, reaching $29.53. The company's stock had a trading volume of 46,784 shares, compared to its average volume of 267,431. Surmodics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $42.44. The firm's 50 day simple moving average is $28.75 and its 200-day simple moving average is $33.63. The company has a quick ratio of 4.29, a current ratio of 5.45 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $422.25 million, a price-to-earnings ratio of -29.24 and a beta of 1.32.

Surmodics (NASDAQ:SRDX - Get Free Report) last released 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). 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 analyst estimates of $32.23 million. Sell-side analysts forecast that Surmodics, Inc. will post 0.2 earnings per share 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).