Summit Global Investments Buys New Shares in Surmodics, Inc. (NASDAQ:SRDX)

Summit Global Investments purchased a new position in Surmodics, Inc. (NASDAQ:SRDX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,893 shares of the company’s stock, valued at approximately $360,000. Summit Global Investments owned about 0.07% of Surmodics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Moody National Bank Trust Division grew its holdings in shares of Surmodics by 14.8% in the 4th quarter. Moody National Bank Trust Division now owns 10,341 shares of the company’s stock worth $376,000 after acquiring an additional 1,331 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Surmodics by 1.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 129,940 shares of the company’s stock worth $4,723,000 after purchasing an additional 1,700 shares in the last quarter. Strs Ohio raised its holdings in Surmodics by 97.2% during the 4th quarter. Strs Ohio now owns 7,100 shares of the company’s stock worth $258,000 after buying an additional 3,500 shares during the period. Russell Investments Group Ltd. lifted its stake in Surmodics by 6.4% during the fourth quarter. Russell Investments Group Ltd. now owns 67,845 shares of the company’s stock valued at $2,466,000 after buying an additional 4,066 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Surmodics in the fourth quarter worth about $163,000. Institutional investors own 96.63% of the company’s stock.

Surmodics Price Performance

NASDAQ SRDX opened at $32.49 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 3.59. The firm has a market capitalization of $463.31 million, a price-to-earnings ratio of 34.20 and a beta of 1.04. The company has a 50 day simple moving average of $28.63 and a 200-day simple moving average of $31.69. Surmodics, Inc. has a 52-week low of $16.79 and a 52-week high of $39.41.

Surmodics (NASDAQ:SRDX) last released its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.43. Surmodics had a net margin of 9.44% and a return on equity of 13.30%. The company had revenue of $31.96 million during the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. Equities research analysts predict that Surmodics, Inc. will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SRDX. StockNews.com lowered shares of Surmodics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Needham & Company LLC cut their target price on shares of Surmodics from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $71.00 target price on shares of Surmodics in a research report on Thursday.

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).