Tabor Asset Management LP Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Tabor Asset Management LP acquired a new position in Surmodics, Inc. (NASDAQ:SRDX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 81,113 shares of the company's stock, valued at approximately $2,476,000. Tabor Asset Management LP owned 0.57% of Surmodics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Surmodics by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 117,904 shares of the company's stock valued at $4,669,000 after purchasing an additional 1,593 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Surmodics by 165.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,000 shares of the company's stock valued at $1,188,000 after purchasing an additional 18,692 shares during the period. Mint Tower Capital Management B.V. bought a new stake in shares of Surmodics in the fourth quarter valued at approximately $1,507,000. JPMorgan Chase & Co. grew its stake in Surmodics by 20.1% during the fourth quarter. JPMorgan Chase & Co. now owns 50,990 shares of the company's stock valued at $2,019,000 after acquiring an additional 8,520 shares in the last quarter. Finally, Norges Bank purchased a new position in Surmodics during the fourth quarter valued at approximately $1,251,000. Institutional investors own 96.63% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Surmodics in a research note on Wednesday, April 30th.

Surmodics Price Performance

SRDX stock traded up $0.08 during midday trading on Friday, reaching $30.70. The company had a trading volume of 11,916 shares, compared to its average volume of 216,035. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.14 and a quick ratio of 3.99. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $41.98. The company has a market capitalization of $438.94 million, a P/E ratio of -22.08 and a beta of 1.31. The firm has a 50-day moving average price of $29.35 and a 200-day moving average price of $31.26.

Surmodics (NASDAQ:SRDX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.07). Surmodics had a negative return on equity of 7.10% and a negative net margin of 16.34%. The company had revenue of $28.09 million during the quarter, compared to analysts' expectations of $32.23 million. On average, research analysts anticipate that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal 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).

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