202,934 Shares in Surmodics, Inc. (NASDAQ:SRDX) Bought by Gardner Lewis Asset Management L P

Gardner Lewis Asset Management L P bought a new position in Surmodics, Inc. (NASDAQ:SRDX) during the second quarter, Holdings Channel.com reports. The institutional investor bought 202,934 shares of the company’s stock, valued at approximately $8,531,000. Surmodics comprises about 2.3% of Gardner Lewis Asset Management L P’s holdings, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in Surmodics by 11.3% in the first quarter. Acadian Asset Management LLC now owns 408,779 shares of the company’s stock valued at $11,988,000 after purchasing an additional 41,617 shares in the last quarter. Panagora Asset Management Inc. raised its position in Surmodics by 109.8% during the fourth quarter. Panagora Asset Management Inc. now owns 44,664 shares of the company’s stock valued at $1,624,000 after purchasing an additional 23,379 shares in the last quarter. Bailard Inc. purchased a new position in shares of Surmodics in the 2nd quarter worth about $257,000. Trium Capital LLP bought a new position in shares of Surmodics during the 2nd quarter valued at about $1,406,000. Finally, Nisa Investment Advisors LLC lifted its position in Surmodics by 4,722.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 68,429 shares of the company’s stock worth $2,877,000 after buying an additional 67,010 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Surmodics Stock Down 0.5 %

SRDX stock opened at $39.26 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.98 and a quick ratio of 3.22. Surmodics, Inc. has a 1-year low of $25.17 and a 1-year high of $42.44. The stock has a market capitalization of $560.24 million, a P/E ratio of 41.33 and a beta of 1.20. The business has a fifty day moving average price of $40.57 and a 200-day moving average price of $36.04.

Surmodics (NASDAQ:SRDX) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $30.32 million. Surmodics had a negative net margin of 1.16% and a positive return on equity of 3.88%. Equities analysts forecast that Surmodics, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SRDX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a research note on Monday, August 5th. Lake Street Capital restated a “hold” rating and issued a $43.00 price objective on shares of Surmodics in a research report on Wednesday, May 29th. StockNews.com initiated coverage on Surmodics in a research note on Thursday, September 12th. They issued a “hold” rating on the stock. Sidoti reiterated a “neutral” rating and issued a $43.00 price objective on shares of Surmodics in a report on Wednesday, May 29th. Finally, Barrington Research restated a “market perform” rating on shares of Surmodics in a report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, According to 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).