DLD Asset Management LP Makes New $2.51 Million Investment in Surmodics, Inc. (NASDAQ:SRDX)

DLD Asset Management LP purchased a new stake in shares of Surmodics, Inc. (NASDAQ:SRDX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 63,491 shares of the company’s stock, valued at approximately $2,514,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SRDX. Oddo BHF Asset Management Sas purchased a new stake in Surmodics during the third quarter valued at approximately $6,593,000. Principal Financial Group Inc. bought a new stake in shares of Surmodics during the 3rd quarter valued at $1,190,000. JPMorgan Chase & Co. grew its position in shares of Surmodics by 192.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 42,470 shares of the company’s stock valued at $1,647,000 after acquiring an additional 27,960 shares during the period. State Street Corp increased its stake in shares of Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock worth $14,506,000 after purchasing an additional 60,240 shares in the last quarter. Finally, Murchinson Ltd. bought a new position in Surmodics in the 3rd quarter worth $2,133,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Price Performance

Shares of Surmodics stock opened at $30.89 on Wednesday. The company has a market capitalization of $441.60 million, a price-to-earnings ratio of -30.58 and a beta of 1.19. 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 stock’s 50-day simple moving average is $32.61 and its 200-day simple moving average is $36.61. Surmodics, Inc. has a 52 week low of $25.17 and a 52 week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. As a group, analysts expect that Surmodics, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SRDX shares. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. 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 research report on Friday, March 7th. Finally, StockNews.com started coverage on shares of Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Surmodics has an average rating of “Hold” and a consensus target price of $50.00.

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).