Surmodics, Inc. (NASDAQ:SRDX) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. decreased its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 82.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,779 shares of the company’s stock after selling 72,681 shares during the quarter. Phocas Financial Corp.’s holdings in Surmodics were worth $625,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas acquired a new position in Surmodics during the third quarter worth approximately $6,593,000. State Street Corp increased its holdings in shares of Surmodics by 19.2% in the 3rd quarter. State Street Corp now owns 374,068 shares of the company’s stock valued at $14,506,000 after acquiring an additional 60,240 shares during the period. Murchinson Ltd. purchased a new stake in Surmodics in the 3rd quarter valued at $2,133,000. Olympiad Research LP purchased a new position in Surmodics during the 3rd quarter worth $1,884,000. Finally, Principal Financial Group Inc. acquired a new position in Surmodics in the third quarter valued at $1,190,000. 96.63% of the stock is owned by hedge funds and other institutional investors.

Surmodics Stock Performance

Shares of SRDX stock opened at $35.54 on Wednesday. The company has a current ratio of 5.45, a quick ratio of 4.29 and a debt-to-equity ratio of 0.26. Surmodics, Inc. has a 12-month low of $25.17 and a 12-month high of $42.44. The company has a market cap of $508.08 million, a price-to-earnings ratio of -35.19 and a beta of 1.20. The stock has a 50 day simple moving average of $36.83 and a 200-day simple moving average of $38.26.

Surmodics (NASDAQ:SRDX) last released its earnings results 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%. On average, equities analysts forecast that Surmodics, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Thursday, January 30th. StockNews.com started coverage on shares of Surmodics in a research note on Monday, February 3rd. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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).