Phocas Financial Corp. Acquires 15,534 Shares of Surmodics, Inc. (NASDAQ:SRDX)

Phocas Financial Corp. boosted its position in Surmodics, Inc. (NASDAQ:SRDX) by 17.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,994 shares of the company’s stock after purchasing an additional 15,534 shares during the period. Phocas Financial Corp.’s holdings in Surmodics were worth $4,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SRDX. Alpine Global Management LLC purchased a new position in shares of Surmodics during the fourth quarter valued at about $1,980,000. Squarepoint Ops LLC lifted its holdings in Surmodics by 154.9% during the 4th quarter. Squarepoint Ops LLC now owns 162,066 shares of the company’s stock worth $6,418,000 after buying an additional 98,489 shares in the last quarter. Millennium Management LLC grew its position in shares of Surmodics by 0.4% in the 4th quarter. Millennium Management LLC now owns 120,344 shares of the company’s stock valued at $4,766,000 after buying an additional 509 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Surmodics in the 4th quarter worth $262,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Surmodics during the fourth quarter worth about $11,880,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Surmodics Stock Performance

Shares of NASDAQ SRDX opened at $28.70 on Tuesday. The firm has a market cap of $410.38 million, a P/E ratio of -28.42 and a beta of 1.32. The stock has a fifty day moving average price of $28.81 and a two-hundred day moving average price of $33.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. Surmodics, Inc. has a 1 year low of $26.00 and a 1 year high of $42.44.

Surmodics (NASDAQ:SRDX) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Surmodics had a negative net margin of 11.48% and a negative return on equity of 4.39%. The business had revenue of $28.09 million during the quarter, compared to analyst estimates of $32.23 million. Research analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

SRDX has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a report on Wednesday, April 30th. Lake Street Capital upgraded shares of Surmodics from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, March 7th. Finally, Wall Street Zen assumed coverage on shares of Surmodics in a research report 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.00.

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).