Surmodics, Inc. (NASDAQ:SRDX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Surmodics, Inc. (NASDAQ:SRDX) by 6.3% during the 4th quarter, Holdings Channel reports. The fund owned 43,965 shares of the company’s stock after selling 2,966 shares during the quarter. Bank of New York Mellon Corp’s holdings in Surmodics were worth $1,741,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. purchased a new stake in Surmodics in the 3rd quarter valued at about $1,190,000. Quest Partners LLC raised its holdings in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Surmodics by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock valued at $4,511,000 after buying an additional 1,491 shares during the period. Algert Global LLC raised its holdings in Surmodics by 29.9% in the 3rd quarter. Algert Global LLC now owns 17,820 shares of the company’s stock valued at $691,000 after buying an additional 4,098 shares during the period. Finally, Longfellow Investment Management Co. LLC purchased a new stake in Surmodics in the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Analysts Set New Price Targets

SRDX has been the subject of several research reports. 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 research report on Friday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of Surmodics in a research report on Thursday, January 30th. Finally, StockNews.com assumed coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.00.

Surmodics Stock Up 1.3 %

Surmodics stock opened at $30.38 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.29 and a current ratio of 5.45. The firm has a market capitalization of $434.31 million, a price-to-earnings ratio of -30.08 and a beta of 1.19. Surmodics, Inc. has a fifty-two week low of $25.17 and a fifty-two week high of $42.44. The stock’s fifty day moving average is $33.44 and its two-hundred day moving average is $37.04.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) EPS for the quarter, beating 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%. Analysts predict that Surmodics, Inc. will post 0.2 EPS for the current fiscal year.

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).