JPMorgan Chase & Co. Increases Stake in Surmodics, Inc. (NASDAQ:SRDX)

JPMorgan Chase & Co. lifted its stake in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,990 shares of the company's stock after purchasing an additional 8,520 shares during the period. JPMorgan Chase & Co. owned 0.36% of Surmodics worth $2,019,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SRDX. Oddo BHF Asset Management Sas acquired a new position in Surmodics in the 3rd quarter valued at about $6,593,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 acquiring an additional 1,593 shares during the last quarter. Barclays PLC grew its position in Surmodics by 16.0% in the third quarter. Barclays PLC now owns 88,750 shares of the company's stock worth $3,443,000 after acquiring an additional 12,271 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in Surmodics by 14.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 57,627 shares of the company's stock worth $2,284,000 after acquiring an additional 7,279 shares during the last quarter. Finally, Mint Tower Capital Management B.V. acquired a new stake in Surmodics during the fourth quarter worth $1,507,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SRDX shares. Lake Street Capital upgraded Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price target for the company in a report on Friday, March 7th. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research report on Wednesday. Finally, StockNews.com initiated coverage on shares of Surmodics in a research note on Monday, February 3rd. They issued a "hold" rating on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $50.00.

Surmodics Trading Down 9.4 %

SRDX traded down $2.92 during mid-day trading on Wednesday, hitting $28.01. 245,721 shares of the stock were exchanged, compared to its average volume of 279,431. The firm's fifty day moving average is $29.73 and its two-hundred day moving average is $35.06. Surmodics, Inc. has a 1-year low of $26.54 and a 1-year high of $42.44. The company has a market cap of $400.43 million, a PE ratio of -27.73 and a beta of 1.30. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.11). Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Equities analysts forecast that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

About Surmodics

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).