One68 Global Capital LLC Invests $1.09 Million in Surmodics, Inc. (NASDAQ:SRDX)

One68 Global Capital LLC acquired a new position in shares of Surmodics, Inc. (NASDAQ:SRDX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,457 shares of the company's stock, valued at approximately $1,087,000. One68 Global Capital LLC owned about 0.19% of Surmodics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in SRDX. Gabelli Funds LLC grew its stake in shares of Surmodics by 3.7% during the 4th quarter. Gabelli Funds LLC now owns 339,959 shares of the company's stock worth $13,462,000 after acquiring an additional 12,250 shares during the period. Gardner Lewis Asset Management L P boosted its position in Surmodics by 23.5% during the fourth quarter. Gardner Lewis Asset Management L P now owns 262,878 shares of the company's stock worth $10,410,000 after purchasing an additional 49,944 shares during the period. Hsbc Holdings PLC increased its stake in shares of Surmodics by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 254,698 shares of the company's stock worth $10,082,000 after purchasing an additional 7,163 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Surmodics in the third quarter valued at approximately $6,593,000. Finally, Northern Trust Corp lifted its stake in shares of Surmodics by 4.4% during the 4th quarter. Northern Trust Corp now owns 135,010 shares of the company's stock valued at $5,346,000 after buying an additional 5,673 shares in the last quarter. Institutional investors own 96.63% of the company's stock.

Wall Street Analyst Weigh In

SRDX has been the topic of a number of analyst reports. StockNews.com assumed coverage on shares of Surmodics in a report on Monday, February 3rd. They set a "hold" rating on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Surmodics in a research note on Wednesday. Finally, Lake Street Capital raised Surmodics from a "hold" rating to a "buy" rating and set a $43.00 price objective on the stock in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Surmodics has an average rating of "Hold" and a consensus target price of $43.00.

Surmodics Price Performance

NASDAQ:SRDX traded down $0.22 during trading hours on Friday, hitting $27.64. The stock had a trading volume of 79,617 shares, compared to its average volume of 277,465. The company has a 50 day simple moving average of $29.43 and a two-hundred day simple moving average of $34.91. The firm has a market capitalization of $395.14 million, a price-to-earnings ratio of -27.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29. Surmodics, Inc. has a one year low of $26.00 and a one year high of $42.44.

Surmodics (NASDAQ:SRDX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The business had revenue of $28.09 million for the quarter, compared to the consensus estimate of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. Research analysts forecast that Surmodics, Inc. will post 0.2 earnings per share 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).