Alpine Global Management LLC Takes $1.98 Million Position in Surmodics, Inc. (NASDAQ:SRDX)

Alpine Global Management LLC bought a new stake in Surmodics, Inc. (NASDAQ:SRDX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,980,000. Alpine Global Management LLC owned about 0.35% of Surmodics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Surmodics in the 4th quarter valued at about $55,000. Legal & General Group Plc lifted its holdings in shares of Surmodics by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock valued at $137,000 after purchasing an additional 880 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Surmodics in the 4th quarter valued at about $217,000. Polymer Capital Management US LLC purchased a new stake in shares of Surmodics in the 4th quarter valued at about $255,000. Finally, DeepCurrents Investment Group LLC purchased a new stake in shares of Surmodics in the 4th quarter valued at about $260,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on SRDX shares. Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, March 7th. Wall Street Zen initiated coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.00.

Surmodics Stock Up 0.2%

SRDX opened at $29.16 on Friday. The business has a 50 day moving average price of $28.85 and a two-hundred day moving average price of $33.95. 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 company has a market cap of $416.96 million, a PE ratio of -28.87 and a beta of 1.32. Surmodics, Inc. has a 52 week low of $26.00 and a 52 week high of $42.44.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $28.09 million for the quarter, compared to analysts’ expectations of $32.23 million. Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. As a group, research analysts anticipate that Surmodics, Inc. will post 0.2 EPS for the current 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).