Wolverine Asset Management LLC Has $265,000 Stock Holdings in Surmodics, Inc. (NASDAQ:SRDX)

Key Points

• Wolverine Asset Management LLC reduced its holdings in Surmodics, Inc. (NASDAQ:SRDX) by 68.8% during the first quarter, now owning approximately 0.06% of the company valued at $265,000.
• Other institutional investors, such as Legal & General Group Plc and Wells Fargo & Company, also increased their stakes in Surmodics during the fourth quarter.
• Surmodics reported an earnings per share (EPS) of $0.06 for the last quarter, exceeding analysts' expectations of ($0.21).

Wolverine Asset Management LLC reduced its position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 68.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,675 shares of the company's stock after selling 19,091 shares during the period. Wolverine Asset Management LLC owned approximately 0.06% of Surmodics worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Surmodics by 77.8% in the 4th quarter. Deutsche Bank AG now owns 42,683 shares of the company's stock valued at $1,690,000 after acquiring an additional 18,671 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Surmodics by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,032 shares of the company's stock valued at $278,000 after purchasing an additional 2,041 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Surmodics by 20.1% in the 4th quarter. JPMorgan Chase & Co. now owns 50,990 shares of the company's stock valued at $2,019,000 after purchasing an additional 8,520 shares during the last quarter. Bardin Hill Management Partners LP bought a new stake in Surmodics during the 4th quarter worth $7,440,000. Finally, Alpine Global Management LLC bought a new stake in Surmodics during the 4th quarter worth $1,980,000. 96.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SRDX has been the topic of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of Surmodics in a research report on Wednesday, April 30th. Zacks Research upgraded Surmodics to a "hold" rating in a research report on Tuesday. Finally, Barrington Research restated a "market perform" rating on shares of Surmodics in a research report on Monday, August 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $43.00.

Surmodics Trading Down 0.5%

SRDX traded down $0.18 during midday trading on Friday, hitting $37.46. 408,956 shares of the company were exchanged, compared to its average volume of 266,417. The firm has a market capitalization of $535.68 million, a P/E ratio of -30.46 and a beta of 1.31. Surmodics, Inc. has a 1-year low of $26.00 and a 1-year high of $40.38. The firm's 50 day moving average price is $32.08 and its 200-day moving average price is $30.89. The company has a quick ratio of 3.10, a current ratio of 3.91 and a debt-to-equity ratio of 0.27.

Surmodics (NASDAQ:SRDX - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.27. The firm had revenue of $29.57 million for the quarter, compared to the consensus estimate of $28.04 million. Surmodics had a negative return on equity of 2.99% and a negative net margin of 14.59%. As a group, equities analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

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).