31,600 Shares in Surmodics, Inc. (NASDAQ:SRDX) Bought by Norges Bank

Norges Bank acquired a new stake in Surmodics, Inc. (NASDAQ:SRDX) during the fourth quarter, HoldingsChannel reports. The firm acquired 31,600 shares of the company’s stock, valued at approximately $1,251,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Surmodics by 4.4% during the fourth quarter. Rhumbline Advisers now owns 20,250 shares of the company’s stock worth $802,000 after buying an additional 861 shares during the last quarter. Modus Advisors LLC acquired a new stake in Surmodics during the 4th quarter worth approximately $40,000. SG Americas Securities LLC grew its stake in shares of Surmodics by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 6,940 shares of the company’s stock valued at $275,000 after purchasing an additional 1,255 shares during the last quarter. R Squared Ltd acquired a new position in shares of Surmodics in the fourth quarter valued at approximately $55,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Surmodics by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 116,311 shares of the company’s stock worth $4,511,000 after purchasing an additional 1,491 shares during the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Trading Up 4.6 %

NASDAQ:SRDX opened at $28.49 on Friday. Surmodics, Inc. has a 1 year low of $25.17 and a 1 year high of $42.44. 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 stock has a fifty day moving average price of $31.13 and a two-hundred day moving average price of $35.90. The stock has a market capitalization of $407.29 million, a price-to-earnings ratio of -28.21 and a beta of 1.30.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Surmodics in a research report on Thursday, January 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, StockNews.com initiated coverage on shares of Surmodics in a research note on Monday, February 3rd. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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).